Kurt Invests $1,000 at a 10% Rate of Return for Twenty

question 260

Multiple Choice

Kurt invests $1,000 at a 10% rate of return for twenty years. The return is based on simple interest that is paid at the end of each year. Which one of the following is correct?

• A) Kurt will receive more interest in year twenty than in year one.
• B) Kurt will receive the same amount of interest each year.
• C) Kurt will not receive any interest for the first year.
• D) Kurt will receive less interest in year twelve than in year eight.
• E) Kurt will receive interest on both the principal and year one's interest in year two.

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Definitions:

The Median

A statistical measure representing the middle value in a given set of numbers, where half the numbers are above and half are below this value.

Control Variable

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The act or practice of watching television content, which can influence individual behaviors, opinions, and cultural trends.

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The practice or policy of not distinguishing between genders, which can lead to ignoring the different needs and experiences of genders.