Terry Started Saving $50 a Month at Age 25 in an Account

question 109

Multiple Choice

Terry started saving $50 a month at age 25 in an account earning 6% compounded monthly.At age 40 she would have _____ in this account.(Use time value tables or financial calculator.Select the closest answer.)

• A) $5,252
• B) $9,000
• C) $9,540
• D) $13,962
• E) $14,541

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Definitions:

Source Habitats

Habitats that supply individuals to other areas, often playing a crucial role in maintaining populations in sink habitats.

Reproductive Success

The transfer of genetic material to subsequent generations, allowing them to further transmit these genes.

Mortality

The state or condition of being subject to death; the death rate within a given population or demographic.

Birth Rate

Birth rate is the number of live births per thousand people in a population over a given period of time.