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%

---

Definitions:

Independence

The state or condition of being free from external control or influence, able to make decisions or act according to one's own will.

Feedback

The process of telling someone else how you feel about something that person did or said.

Core Characteristic

A core characteristic refers to the fundamental, distinctive feature or attribute that defines an entity, concept, or system.

Direct Information

Data or facts received straight from the source without any intermediaries or alterations.