Rock Solid Bank & Trust Is Offering a CD That

question 47

Multiple Choice

Rock Solid Bank & Trust is offering a CD that pays 5% compounded continuously. How much interest would a $1,000 deposit earn over 12 years (Round your answer to the nearest dollar.)
Select the correct answer.

• A)$2,822
• B) $822
• C) $1,822
• D) $1,820
• E) $1,796

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Definitions:

Muggings

Acts of attacking someone with the intent to rob them, often using violence or the threat of violence.

Heuristics

Simple, efficient rules, either hard-coded by evolutionary processes or learned, that help in making decisions, forming judgments, or solving problems.

System II Strategies

Cognitive processes associated with analytical thinking that are deliberate, controlled, and typically require conscious effort, as opposed to intuitive or automatic System I processes.

Atypical

Atypical refers to something that is not typical or usual; in medical or psychological contexts, it often describes conditions, behaviors, or responses that deviate from the norm.