If You Put $1,000 in the Bank Today at an Interest

question 87

Multiple Choice

If you put $1,000 in the bank today at an interest rate of 6% what is its value in two years?

• A)$2,000(1.06)
• B)$1,000 + $(1.06)²
• C)$1,000(1.06)²
• D)None of the above are correct.

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Definitions:

Primary Groups

Small, close-knit, and usually emotionally close groups that are among the first groups a person belongs to, such as family and close friends.

Charles Horton Cooley

An American sociologist known for his theory of the "Looking Glass Self," which explains how individuals develop their sense of self through interactions with others.

Intimate Interaction

Refers to close and personal engagement between individuals, often involving emotional, physical, or sexual closeness.

Impersonal Relationships

Relationships characterized by a lack of emotional depth or personal connection, often temporary or superficial.