Merlin Is Saving Money to Purchase a New Car

question 119

Multiple Choice

Merlin is saving money to purchase a new car. If he deposits $5,000 into a saving account that pays 8% interest, compounded semi-annually, how much will he have in his account at the end of the first year?

• A)$5,400.00
• B)$5,200.00
• C)$5,408.00
• D)$5,008.00

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Definitions:

Strategic Alliances

Business agreements between two or more companies to work together toward achieving mutually beneficial strategic goals.

IT and Internet

The study and application of systems for storing, retrieving, and sending information through computers and telecommunication devices.

Bureaucracy

A system of government or business that is characterized by fixed rules, a hierarchy of authority, and a complex structure of administration and control.

Worker Empowerment

Strategies and practices that give employees authority and power to make decisions and contribute to the company's success.