McGoff Company Deposits $20000 in a Fund at the End

question 16

Multiple Choice

McGoff Company deposits $20000 in a fund at the end of each year for 5 years. The fund pays interest of 4% compounded annually. The balance in the fund at the end of 5 years is computed by multiplying

• A) $20000 by the future value of 1 factor.
• B) $100000 by 1.04.
• C) $100000 by 1.20.
• D) $20000 by the future value of an annuity factor.

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Definitions:

Stereotypes

Oversimplified and generalized beliefs or ideas about a group of people that often overlook individual differences and complexities.

Salience Principle

Categorizing people on the basis of what initially appears prominent about them.

Categorize

involves the process of classifying or organizing items, people, or concepts into groups based on shared characteristics or criteria.

Colorblind Racism

An ideology that denies racial discrimination, assuming equality despite clear racial disparities.