If Gerry Makes a Deposit of $1,500 at the End

question 27

Multiple Choice

If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?

• A) $40,305
• B) $30,000
• C) $108,078
• D) $161,220

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Definitions:

Birth Canal

The passageway comprising the cervix, vagina, and vulva through which a fetus travels during birth.

Cultural Practices

The shared activities, rituals, and norms that define the lifestyle of a particular group or society.

Biological Evolution

The process by which species of organisms undergo change over time through genetic variation and natural selection, leading to the emergence of new species.

Punctuated Equilibria

A model of macroevolutionary change that suggests evolution occurs via long periods of stability or stasis punctuated by periods of rapid change.