How Much Would a Person Need to Deposit into a Savings

question 9

Multiple Choice

How much would a person need to deposit into a savings account to generate $1,000 per month for one year if annual simple interest rates are 5%?

• A) $200,000
• B) $240,000
• C) $300,000
• D) $360,000

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Definitions:

3D

Referring to three dimensions (width, height, and depth), this term is often associated with images, models, or simulations that offer a perception of depth.

Linear Manner

A sequential or step-by-step approach to presenting information or solving a problem.

Financial Stability

A state where an individual or organization has sufficient resources to meet financial obligations without incurring unacceptable debt or risk.

Color

A property of light reflected off objects, perceived by the eye and brain, often used symbolically or to convey moods in communication.