Solve the problem.$249 is deposited into a savings account at 7% interest, compounded monthly. To the nearest year, how long will it take for the account balance to reach $452?
A. 6 years
B. 12 years
C. 9 years
D. 8 years
Answer: C
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Suppose you borrow money from your parents for college tuition on January 1, 2013. Your parents require four annual payments of $1,000 each, with the first payment due on January 1, 2017. They are charging you 6% annual interest. What is the cost of the college tuition?
A. $2,909.37 B. $1,593.85 C. $4,000.00 D. $2,744.69
Decide whether the statement makes sense. Explain your reasoning.Niyas is starting a college fund for his 4-year old daughter. He will invest money in a savings account and the money will remain in the account for at least 15 years. The bank told him that an account offering an APR of 5% compounded annually was a better deal than an account offering simple interest at 6% per year.
What will be an ideal response?
Write the first five terms of the arithmetic sequence with the given first term a and common difference d.a = 21; d = -5
A. -21, -16, -11, -6, -1 B. 21, 16, 11, 6, 1 C. 25, 19, 13, 7, 1 D. 0, 21, 16, 11, 6
Roberto and Claudia's high level of responsivity to their baby's persistent crying demonstrates what type of influence on the child's development?
A. genetic B. environmental C. maturation D. social