What Annual Rate of Return Would Grandma Zoe Need to Earn

question 43

Multiple Choice

What annual rate of return would Grandma Zoe need to earn if she deposits $1,000 per month into an account beginning one month from today in order to have a total of $1,000,000 in 30 years?

• A) 4.55%
• B) 5.28%
• C) 5.98%
• D) 6.23%

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Definitions:

Meperidine

A synthetic opioid analgesic medication used to treat moderate to severe pain, known commonly by its brand name, Demerol.

Hydromorphone

A potent opioid analgesic medication used to manage significant pain when other treatments are insufficient.

Furosemide

A diuretic medication used to treat fluid build-up due to heart failure, liver disease, or kidney disease by increasing urine production.

Duration of Action

The length of time the effects of a drug or medication last after reaching its peak action.