At the End of Two Years, What Will Be the Balance

question 90

Multiple Choice

At the end of two years, what will be the balance in a savings account paying 6% annually if $15,000 is deposited today? The future value of one at 6% for one period is 1.06.

• A) $15,000
• B) $15,900
• C) $16,800
• D) $16,854

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Definitions:

Authoritarian

A governing or leadership style characterized by strong central power and limited political freedoms, often involving obedience to authority without much personal freedom.

Disenfranchised

Stripped of voting rights, either temporarily or permanently.

Totalitarian Government

A form of government that seeks to control all aspects of public and private life, often through coercion and repression.

Pluralistic Society

A society composed of diverse groups with different backgrounds, traditions, and beliefs, who coexist and interact within a common civilization.