What Amount Should Be Deposited in a Bank Today to Grow

question 15

Multiple Choice

What amount should be deposited in a bank today to grow to $3,000 three years from today?

• A)$3,000 ÷ 0.751
• B)$3,000 × 0.909 × 3
• C)($3,000 × 0.909) + ($3,000 × 0.826) + ($3,000 × 0.751)
• D)$3,000 × 0.751

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Definitions:

Ratio

A quantitative relationship between two numbers, showing how many times the first number contains the second.

Ratio Scale

A scale of measurement that has a true zero point and equal distances between adjacent units, allowing for meaningful comparison of ratios of scale values.

Variable

A characteristic, number, or quantity that can be measured or quantified and can vary among subjects being observed.

Height

The measurement of an object or person from base to top.