If You Leave the Money of $950 in the Account

question 259

Multiple Choice

If you leave the money of $950 in the account for five years and the account earns 8% compounded annually, what will the balance in the account grow to?

• A) $1,341.05
• B) $1,347.82
• C) $1,395.86
• D) $1,406.23
• E) $1,491.15

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Definitions:

Cotton Growers

Individuals or entities involved in the cultivation of cotton plants, which is a significant agricultural activity in regions with suitable climates for this crop.

White Miners

Refers to the labor force comprising predominantly of white individuals working in the mining industry, often associated with historical mining operations in various parts of the world.

Jackson's View

The political and personal viewpoints of Andrew Jackson, the seventh President of the United States, including his support for the common man and his role in the Indian Removal Act.

Indians

A term commonly used to refer to the indigenous peoples of the Americas; also a misnomer originated by Christopher Columbus who thought he had reached the Indian subcontinent.