If $2,000 Were Invested at the End of Every Three

question 111

Multiple Choice

If $2,000 were invested at the end of every three months, how long would it take to accumulate $475,000 at 10% compounded quarterly? (rounded up to the nearest whole year)

• A) 60 years
• B) 79 years
• C) 27 years
• D) 20 years
• E) 14 years

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Definitions:

Preventive Maintenance

Regular and routine maintenance to help keep equipment running smoothly and prevent any unplanned downtime due to unexpected equipment failure.

Equipment

The machinery, tools, and devices necessary for conducting an operation or task.

Machinery

Machines collectively or a single machine, especially those used in industrial or agricultural processes.

Mean Time Between Failures

A reliability metric that measures the average time elapsed between a system failing and the next time it fails.