Lisa Richter Deposited $5,000 at 4% Compounded Semiannually for Three

question 38

Multiple Choice

Lisa Richter deposited $5,000 at 4% compounded semiannually for three years. At the beginning of the fourth year, Lisa deposited $2,500. What would her balance be at the end of five years assuming she is still earning 4% compounded semiannually?

• A)$5,131
• B)$8,131
• C)$8,800
• D)$8,800.99
• E)None of these

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Definitions:

Psychological Laboratory

A controlled environment designed for conducting scientific research and experiments in psychology.

Leipzig

A city in eastern Germany, known for its cultural heritage, including music, and historically significant as a major center for the study of psychology.

Wilhelm Wundt

A German physiologist and psychologist who is recognized as the founder of experimental psychology and the first person to call himself a psychologist.

American Psychological Association

The largest scientific and professional organization of psychologists in the United States, dedicated to advancing psychology as a science, profession, and means of promoting health, education, and human welfare.