Granny Puts $35,000 into a Bank Account Earning 4

question 32

Multiple Choice

Granny puts $35,000 into a bank account earning 4%. You can't withdraw the money until the balance has doubled. How long will you have to leave the money in the account?

• A) 16 years
• B) 17 years
• C) 18 years
• D) 19 years
• E) 20 years

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Definitions:

Physiological Needs

Basic physical requirements essential for human survival, such as food, water, and shelter, as described in Maslow's hierarchy of needs.

Self-Actualization

The accomplishment of realizing one's full capabilities and potential, seen as an intrinsic aspiration or necessity among all humans.

Appraisal Theory

A theory in psychology that suggests emotions are derived from an individual's evaluation (appraisal) of a situation in terms of how it impacts their well-being.

Theories of Emotion

Encompass various psychological theories explaining how human emotions are generated, including the roles of physiological arousal, cognitive processes, and environmental stimuli.