You Are Considering an Investment in a Third World Bank

question 47

Multiple Choice

You are considering an investment in a Third World bank account that pays a nominal annual rate of 18%,compounded monthly.If you invest $5,000 at the beginning of each month,how many months would it take for your account to grow to $170,000? Round fractional months up.

• A) 31
• B) 28
• C) 34
• D) 23
• E) 22

---

Definitions:

Wilcoxon Signed Rank Test

A non-parametric statistical test used to compare two related samples, matching pairs, or repeated measurements on a single sample to assess whether the population mean ranks differ.

Null Hypothesis

A default hypothesis that there is no effect or no difference, and it's the assumption to be tested in statistical analysis.

Triglyceride Levels

A measure of the amount of triglycerides (a type of fat) present in your blood, which can indicate heart health and risk for certain diseases.

Expected Value

The predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.