Frank Invests $2,500 in an Account That Pays 6% Simple

question 210

Multiple Choice

Frank invests $2,500 in an account that pays 6% simple interest. How much money will he have at the end of four years?

• A) $2,650
• B) $3,100
• C) $3,156
• D) $3,163
• E) $10,600

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Definitions:

Emergencies

Situations that arise unexpectedly requiring immediate action, often to prevent harm or damage.

Older People

Individuals who are advanced in age, often considered to be those who are 65 years old or older, facing various physiological and social changes.

Elderly Childless

Older adults who do not have children, which may impact their social support network and considerations for care in later life.

Institutionalized

The process by which individuals are deeply immersed and acclimated into an organized system or structure, such as a prison, hospital, or long-term care facility.