Lew Has $3,600 That He Wants to Invest for 5

question 49

Multiple Choice

Lew has $3,600 that he wants to invest for 5 years.He can invest this amount at his credit union and earn 2.2 percent simple interest.Or, he can open an account at Compass Bank and earn 2.15 percent interest, compounded annually.If he decides to invest at Compass Bank for 5 years, he will:

• A)earn $6 more than if he had invested with his credit union.
• B)earn $8 more than if he had invested with his credit union.
• C)earn the same amount as if he had invested with the credit union.
• D)have a total balance of $3,680 in his account after one year.
• E)have a total balance of $4,012 in his account after 5 years.

---

Definitions:

Discovered Memories

Memories that were previously unknown or forgotten, often coming to light through therapy or spontaneously, sometimes controversial in nature.

Recovered Memories

Memories of traumatic events that were not consciously accessible for some time, but later recalled, often controversial in psychology.

Cognitive Psychologist

A professional specializing in the scientific study of mental processes such as perception, thought, memory, and reasoning.

Nursing Assistive Personnel

Healthcare workers who provide basic care under the supervision of nursing staff, such as certified nursing assistants.