Howard Is Saving for a Holiday

question 32

Multiple Choice

Howard is saving for a holiday. He deposits a fixed amount every month in a bank account with an EAR of 14.7%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $14,000 in the account in four years' time?

• A) $176
• B) $308
• C) $220
• D) $352

---

Definitions:

Paracrine Regulation

A form of cellular communication where cells release signals that affect nearby target cells in the immediate environment, regulating their behavior.

Interstitial Fluid

The fluid that fills the spaces between cells in the body, providing a means of delivering nutrients and removing waste from cells not directly served by blood vessels.

Signal Termination

The process by which a cellular signal is brought to an end, ensuring that a cell's response to a stimulus does not exceed necessary bounds.

Signal Transduction

The process by which a cell responds to external signals by converting them into internal biochemical messages.