You Are Expecting to Receive $70 Per Year at the End

question 75

Multiple Choice

You are expecting to receive $70 per year at the end of each of the next five years.If you invest the money in account that pays 5%,then how much interest will you earn over the five years? (Round to the nearest whole dollar)

• A) $37
• B) $18
• C) $75
• D) $350
• E) $387

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Definitions:

Subgoaling

The process of breaking down a larger goal into smaller, more manageable objectives.

Planning

The cognitive process of thinking about and organizing the activities required to achieve a desired goal.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes.

Algorithms

Instructions or procedures designed to solve a specific problem or perform a specific task through a series of steps, pivotal in programming and technology.