What Annually Compounded Rate of Return Must Thiva Earn in Her

question 22

Multiple Choice

What annually compounded rate of return must Thiva earn in her TFSA account in order for month end contributions of $950 to accumulate $1 million after 25 years?

• A) 0%
• B) 8.97%
• C) 8.62%
• D) 0.716%
• E) 7.16%

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Definitions:

Low-Ranking Birds

Birds that occupy a lower position within the social hierarchy of their group.

Energy-Saving Positions

Postures or behaviors adopted by animals to minimize energy expenditure during rest or inactivity, often seen in species that live in environments with scarce food resources.

Convergent Evolution

The independent evolution of similar features in species of different lineages, resulting from adaptation to similar environmental challenges and niches.

Comparative Method

A research approach in evolutionary biology that compares different species or populations to understand adaptation, phylogeny, and function.