If $3,000 Is Put in a Savings Account Today, What

question 10

Multiple Choice

If $3,000 is put in a savings account today, what amount will be available three years from today?

• A)$3,000 ÷ 1.260
• B)$3,000 × 1.260
• C)$3,000 × 1.080 × 3
• D)($3,000 × 1.080) + ($3,000 × 1.166) + ($3,000 × 1.260)

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Definitions:

Unemployment

The situation where individuals who are willing and able to work are unable to find employment.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by a business to generate wealth through investment or production.

Natural Resources

Materials or substances that occur in nature and can be used for economic gain, such as minerals, forests, water, and fertile land.

Opportunity Cost

Missing potential improvements from other opportunities when a particular alternative is chosen.