Robin Invested $10,000 in an Account That Pays 5% Simple

question 192

Multiple Choice

Robin invested $10,000 in an account that pays 5% simple interest. How much more could she have earned over a 40-year period if the interest had compounded annually?

• A) $38,207.16
• B) $38,414.14
• C) $40,399.89
• D) $48,414.14
• E) $50,399.89

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Definitions:

Commercial Rights

involve the legal rights and privileges granted to businesses and individuals engaged in commerce, including trade, sales, and the distribution of goods and services.

Asian Markets

The financial markets and trading spaces of Asian countries, significant for their rapid growth, diversity, and increasing influence in the global economy.

World Power

A country that has significant influence globally, often through economic, military, or diplomatic strength.

Slave States

Refers to the states in the United States before the Civil War where slavery was legally recognized and practiced.