The Stated Interest Rate on Your Account Is 3

question 76

Multiple Choice

The stated interest rate on your account is 3.5%,interest compounded monthly.If you deposit $100 each month,how much will you have in your account in 8 years? (Use time value tables or financial calculator.)

• A)$9,600
• B)$9,936
• C)$11,060
• D)$12,288
• E)$12,350

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Definitions:

Eisenhower

Dwight D. Eisenhower, the 34th President of the United States from 1953 to 1961, known for his leadership during World War II as Supreme Commander of Allied Forces in Europe.

Khrushchev

Nikita Khrushchev was a Soviet statesman who led the Soviet Union during part of the Cold War as the First Secretary of the Communist Party and as Premier.

General MacArthur

Douglas MacArthur, a prominent United States Army general known for his command roles during World War II and the Korean War.

Limited War

A conflict with restricted objectives, scope, or means, such as limiting the geographical area of the fight or avoiding the use of certain weapons.