Since Your First Birthday,your Grandparents Have Been Depositing $1000 into a Savings

question 89

Multiple Choice

Since your first birthday,your grandparents have been depositing $1000 into a savings account on every one of your birthdays.The account pays 4% interest annually.Immediately after your grandparents make the deposit on your 18th birthday,the amount of money in your savings account will be closest to:

• A)$25,645.
• B)$36,465.
• C)$12,659.
• D)$18,000.

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Definitions:

Motivating Factors

Elements or conditions that induce an individual to act or perform in a certain manner, driving engagement and effort.

Invent New Options

The creation of additional alternatives or possibilities to enhance decision-making or problem-solving.

Interdependent

A situation or relationship where parties are mutually reliant on each other, such that the actions of one affect the outcomes for the other.

Trust

Reliance on the integrity, strength, ability, or surety of a person or thing; confidence.