Don Opened a Retirement Account with an APR of 3

question 34

Multiple Choice

Don opened a retirement account with an APR of 3.25% compounded monthly.He is planning to retire in 15 years.About how much will he have in the account when he retires if he deposits $750 a month?

• A) $173,677.27
• B) $165,812.50
• C) $73,677.21
• D) $65,812.50

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Definitions:

Contemporary Organisations

Modern entities or institutions structured to achieve specific goals, characterized by their adaptive strategies in dynamic environments.

Theory Z

A management approach that integrates Japanese and American business practices, focusing on long-term employment, collective decision-making, and holistic concern for employees.

Japanese Management Practices

Business strategies and cultural approaches unique to Japanese companies, emphasizing consensus, quality, and continuous improvement.

Long-Term Employment

A form of employment characterized by job stability, where an individual holds positions within a company or industry for an extended period, often leading to benefits such as pensions.