Solve the Problem. -At the End of Every 3 Months, Judy Deposits $100

question 25

Multiple Choice

Solve the problem.
-At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded semiannually for
1 year. When this certificate matures, how much will Judy have accumulated?

• A) $1930.25
• B) $1823.20
• C) $1920.96
• D) $2072.31

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Definitions:

Symbolic Thought

The ability to use symbols, language, or objects to represent something abstract, such as an idea or concept.

Piaget

A Swiss psychologist known for his pioneering work on the cognitive development of children.

Language Development

The process by which individuals acquire the ability to perceive, comprehend, and produce language during their lifetime.

Assimilation

The cognitive process by which new information is interpreted or absorbed into an existing schema.