If You Invest $2,000 at the End of Each Year

question 37

Multiple Choice

If you invest $2,000 at the end of each year for five years and you earn 7% interest compounded annually, how much will you have accumulated at the end of the fifth year?

• A) $12,307
• B) $11,501
• C) $14,026
• D) $10,700

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Definitions:

Postmodern Social Theory

A framework that challenges modernist ideas, highlighting the complexity of social identities and the relative nature of knowledge.

Theories of Consumption

Refers to various frameworks for understanding how and why individuals or societies engage in buying, using, and disposing of goods and services.

Marxist Tradition

A body of thought derived from the works of Karl Marx, focusing on the role of class struggle in societal change and development.

Institute of Social Research

A research organization affiliated with a university, focusing on the analysis and understanding of social structures and processes.