Find the Amount That Will Be Accumulated in the Account

question 5

Multiple Choice

Find the amount that will be accumulated in the account under the given conditions.
-The principal $15,400 is accumulated with simple interest of 16% for 5 years.

• A) $20,212.50
• B) $27,720
• C) $12,320
• D) $15,892.80

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Definitions:

Mistaken Identifications

Incorrectly recognizing a person or item as being someone or something else, often leading to false assumptions or judgments.

Incorrect Rejections

The error in a decision-making process where a correct or valid option is dismissed or not accepted.

Peremptory Challenge

A method of removing a potential juror from a jury panel in which the attorney need not specify the reason.

Voir Dire

The legal proceeding in which attorneys and judges attempt to uncover bias among those people who have been called for jury duty.