The Future Amount of $6, 000 Deposited Today and Compounded

question 24

Multiple Choice

The future amount of $6, 000 deposited today and compounded semiannually at an 8% annual interest rate for four years would be

• A)$8, 211
• B)$8, 163
• C)$8, 100
• D)$7, 920

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Definitions:

Cause Célèbre

A controversial issue or incident attracting a great deal of public attention.

Ethiopia

A country located in the Horn of Africa, known for its rich history, diverse cultures, and as one of the oldest locations of human life known to scientists.

Franz Boas

Known as the "father of American anthropology," Boas was a German-American anthropologist who developed the foundation for the culture concept and advocated for cultural relativism.

Social Construct

An idea or notion that has been created and accepted by the people in a society but is not based on natural laws.