What Amount Will Be in an 8% Bank Account Three

question 87

Multiple Choice

What amount will be in an 8% bank account three years from now if £6,000 is invested each year for four years with the first investment to be made today?

• A) (£6,000 × 1.260) + (£6,000 × 1.166) + (£6,000 × 1.080) + £6,000
• B) £6,000 × 1.360 × 4
• C) (£6,000 × 1.080) + (£6,000 × 1.166) + (£6,000 × 1.260) + (£6,000 × 1.360)
• D) £6,000 × 1.080 × 4

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Definitions:

Nonparametric Statistics

Statistical methods that do not assume a specific distribution of the data, often used when data doesn’t meet the assumptions required for parametric testing.

Process Variable Changes

Alterations in variables that are measured, manipulated, or controlled in a study, focusing on how these changes affect outcomes within the process being studied.

Psychological Functioning

Refers to the mental processes and behaviors that influence an individual's emotional, mental, and social well-being.

Longitudinal Study

A research design that follows the same subjects over a period of time, observing them at multiple points to examine changes and developments.