MrNailor Invests $5,000 in a Certificate of Deposit at His

question 88

Multiple Choice

Mr.Nailor invests $5,000 in a certificate of deposit at his local bank.He receives annual interest of 8% for 7 years.How much interest will his investment earn during this time period?

• A) $2,915
• B) $3,569
• C) $6,254
• D) $8,570

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Definitions:

Public Debt

The total amount of money that a country's government has borrowed by various means, including foreign governments and international organizations.

Productive Capacity

The maximum output that an economy can achieve when using its resources fully and efficiently.

Standard of Living

The degree of wealth and material comfort available to a person or community.

Aggregate Expenditures

are the total amount of spending on goods and services in an economy at a given level of income during a specified period.