When you were born, your parents opened an investment account in your name and deposited $1,500 into the account. The account has earned an average annual rate of return of 5.3 percent. Today, the account is valued at $42,856. How old are you?
a. 71.47 years
b. 70.67 years
c. 61.08 years
d. 67.33 years
e. 64.91 years
Ans: e. 64.91 years
Business
You might also like to view...
Using typical persons and CEOs as spokespeople in ads are difficult because:
A) the individuals are often perceived as not being credible B) they do not have a high level of expertise C) they are not professional actors so they are more difficult to work with D) they are not physically attractive
Business
Which of the following refers to planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption?
A) customization B) distribution C) communication D) promotion
Business