Tom and Antonio Both Want to Open Savings Accounts Today

question 190

True/False

Tom and Antonio both want to open savings accounts today. Tom wants to have $1,000 in his savings account six years from now. Antonio wants to have $1,000 in his savings account three years from now. Tom will need to deposit twice the amount of money today as Antonio.

---

Definitions:

Informational Influence

A social psychology concept where an individual conforms to the opinions or behaviors of a group, believing the group has accurate information.

Social Pressure

The influence exerted by a social group or society on an individual to change their behavior, values, or beliefs to conform to group norms.

Dresses

Garments for the body that typically consist of a skirt with an attached bodice or a matching bodice giving the effect of a one-piece garment.

Bystander Effect

In social psychology, it describes a situation where the presence of others decreases an individual's likelihood to help a victim.