Robin, Who Is Self-Employed, Contributes $5,500/year into a Keogh Account

question 1

Multiple Choice

Robin, who is self-employed, contributes $5,500/year into a Keogh account. How much will he have in the account after 15 years if the account earns interest at the rate of 8.5%/year compounded yearly? ​

• A) $155,277.48
• B) $18,698.59
• C) $219,983.36
• D) $6,623.25

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Definitions:

Dreaming

A collection of mental images, ideas, and emotional experiences that happen during sleep.

Brain Waves

The rhythmic or repetitive patterns of neural activity in the brain, measurable by electroencephalography (EEG).

Frequency

The number of times an event occurs within a specified period of time; in physics, it is the number of waves that pass a fixed point per unit of time.

Amplitude

The height or strength of a wave signal, which in the context of sound, relates to its loudness, and in light, its intensity.