How Much Money Does Ted Need to Invest Each Month

question 5

Multiple Choice

How much money does Ted need to invest each month in order to accumulate $10,000 over a five-year period,if he expects to get a return of 5.625% per year?

• A)$144.71
• B)$1,787.30
• C)$148.94
• D)$146.36

---

Definitions:

Paraphrase Response

The act of rewording or rephrasing someone else's message to demonstrate understanding or to clarify the meaning.

Divorcing

The legal dissolution of a marriage by a court or other competent body, often involving emotional, psychological, and logistical adjustments by the individuals involved.

Cared

The state of being shown concern or consideration by others, typically in a compassionate or attentive manner.

Ghost

An apparition of a dead person that is believed to appear or become manifest to the living, typically as a nebulous image.