An investment club has had an average rate of return of 15% per year for the past
Question:
An investment club has had an average rate of return of 15% per year for the past 6 years. If Teresa invests $1000 today and neither adds nor subtracts money from the club, how much will Teresa have invested after 5 years assuming that the rate of return does not change?
a. 1000 + 1.155
b. 1000(1.15)5
c. 1000 + 0.15
d. 1000(0.15)5
e. 1000(5)0.15
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Related Book For 
1014 Practice Questions For The New GRE
ISBN: 9780375429682
2nd Edition
Authors: The Princeton Review
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