Silva Saves $100 at the End of Each Month and Deposits

question 93

Multiple Choice

Silva saves $100 at the end of each month and deposits the money in an account, paying 7.49% compounded semi-annually. How much of the accumulated amount is interest after 40 years?

• A) $291 872
• B) $243 872
• C) $299 531
• D) $251 531
• E) $253 521

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Definitions:

Union Representation

The act of being represented by a labor union or trade union in negotiations and legal matters with an employer.

Card-Signing Campaign

A union organizing strategy where employees sign cards indicating their support for union representation in the workplace.

Distributive Bargaining

A negotiation strategy that involves a fixed amount of resources being divided between parties, often leading to a win-lose scenario.

Win-Lose Situation

A competitive scenario where one party's gain is inherently due to another party's loss, emphasizing a zero-sum outcome.