If Billy Pierce Invests $1,000 at the End of Each

question 38

Multiple Choice

If Billy Pierce invests $1,000 at the end of each year for 8 years, and he wants it to grow to at least $10,000, what interest rate would be needed?

• A)4%
• B)5%
• C)6%
• D)7%

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Definitions:

Pseudopodia

Temporary protrusions of the cell membrane in certain amoeboid cells, used for movement or ingesting nutrients.

Amoeba

A unicellular protist that moves by means of pseudopodia.

Locomotion

The ability or act of moving or traveling from one place to another, employing various mechanisms across different species.

Red Tides

Algal blooms that turn coastal waters red and are harmful to marine life due to the toxins produced by the algae.