If $40,000 Is Deposited in a Savings Account Paying Interest

question 33

Multiple Choice

If $40,000 is deposited in a savings account paying interest of 4% compounded annually, what amount will be in the account at the end of 5 years?

• A) $32,878
• B) $48,000
• C) $48,620
• D) $48,666

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Definitions:

Social Inequality

The unequal distribution of resources, opportunities, and privileges among members of a society, often based on class, race, gender, or age.

Biological Roots

Fundamental aspects of human behavior and physical traits that are believed to originate from our genetic makeup.

Sociological Implications

Pertains to the consequences or impacts that social phenomena, behaviors, or policies have on society and its structures.

Participation

The act of taking part or becoming involved in an activity or event.