Your Father Helped You Start Saving $20 a Month Beginning

question 30

Multiple Choice

Your father helped you start saving $20 a month beginning on your 5^th birthday.He always made you deposit the money into your savings account on the first day of each month just to "start the month out right." Today completes your 17^th year of saving and you now have $6,528.91 in this account.What is the rate of return on your savings?

• A)5.15 percent
• B)5.30 percent
• C)5.47 percent
• D)5.98 percent
• E)6.12 percent

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Individual Education Plan

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