When I Was Considering What to Do with My $8,000

question 75

Multiple Choice

When I was considering what to do with my $8,000 Lottery winnings, my broker suggested I invest half of it in gold, whose value was growing by 12% per year, and the other half in certificates of deposit (CDs) , which were yielding 9% per year compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 7 years Round your answer to the nearest cent. ?

• A)$16,609.89
• B) $16,250.51
• C) $16,154.88
• D) $13,422.30
• E) $16,719.70

Calculate the time needed to save for significant purchases based on a fixed savings rate.

Understand the basic concepts of minerals and their physical properties.

Identify and classify minerals based on their chemical composition and physical properties.

Explain the formation and classification of silicates and other mineral classes.

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Definitions:

Real Wages

Wages adjusted for inflation, representing the purchasing power of income earned through work.

Resource Prices

Resource prices refer to the cost associated with the inputs used in the production of goods and services, including raw materials, labor, and capital.

Expansionary Gap

A situation in macroeconomics where the actual production of goods and services exceeds the economy's potential output, often leading to inflation.

Short-Run Aggregate Supply Curve

A graphical representation that shows the relationship between the total supply of goods and services produced by an economy at various price levels in the short term.