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.

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Definitions:

Existentialists

Philosophers who emphasize individual freedom, choice, and subjective experience as fundamental to understanding human existence.

Kant

A rephrased definition: A philosopher who extensively explored the concepts of morality, duty, and the categorial imperative, emphasizing the importance of autonomy and rationality.

Determinism

The philosophical theory that all events, including moral choices, are determined completely by previously existing causes.

Intrinsic

Referring to the inherent or essential qualities of something, not dependent on external factors.