If You Invest $5,000 at the End of Every Year

question 184

Multiple Choice

If you invest $5,000 at the end of every year for nine years at an interest rate of 6%,the balance of your investment in 5 years will be closest to

• A)$6,690.
• B)$28,185.
• C)$21,060.
• D)$25,000.

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Definitions:

European

Pertaining to Europe, its people, cultures, or nations.

Plantation Slavery

A system of agriculture in the Americas where large farms (plantations) used the forced labor of enslaved Africans and African Americans to produce crops like tobacco, sugar, and cotton.

Atlantic Coast

The eastern seaboard of the United States, stretching from Maine to Florida, characterized by diverse ecosystems and significant historical importance.

Portugal

A country located on the southwestern edge of Europe, known for its rich history, cultural heritage, and significant contributions to global exploration.