What Annual Interest Rate Would You Need to Earn If

question 71

Multiple Choice

What annual interest rate would you need to earn if you wanted a $500 per month contribution to grow to $27,050 in four years?

• A) 2.37 percent
• B) 5.77 percent
• C) 6.00 percent
• D) 13.53 percent

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Definitions:

Finger Habits

Repetitive behaviors involving the fingers, such as tapping, twirling, or biting, which can be benign or indicative of anxiety or nervousness.

Type II Alcoholism

A category of alcoholism characterized by early onset, genetic predisposition, and often associated with antisocial personality traits.

Men

Adult male human beings, often studied in various scientific and sociocultural contexts.

Women

Female human beings; often discussed in numerous contexts including social, biological, cultural, and political.