Jennifer Invested $2,000 in an Account That Pays 3% Simple

question 2

Multiple Choice

Jennifer invested $2,000 in an account that pays 3% simple interest. How much more could she have earned over a six-year period if the interest had compounded annually?

• A) $28.10
• B) $29.18
• C) $31.50
• D) $33.33
• E) $34.67

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Definitions:

Types Of Decisions

Decisions can be categorized based on complexity, urgency, and impact, such as strategic, tactical, operational, and routine decisions.

Equity Theory

A concept in social psychology that posits individuals are motivated by fairness, and if they identify inequalities in the input-outcome ratios compared to others, it will result in work-related tensions.

Comparison Other

An individual or group used as a reference point for evaluation, often influencing self-perception and behavior.

Inequity

The perceived unfairness or imbalance in the distribution or treatment in social exchanges, leading to dissatisfaction and tension.