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:

Respective Charges

The specific electrical charges on particles or objects, usually defined as positive or negative, which determine their electromagnetic interactions.

Solvent

A substance, typically a liquid, capable of dissolving other substances to form a solution.

Water

A colorless, tasteless, and odorless substance essential for most plant and animal life and the most widely used solvent.

Solvent

A substance, typically a liquid, capable of dissolving other substances (solutes) to form a solution.