If $40000 Is Put in a Savings Account Paying Interest

question 32

Multiple Choice

If $40000 is put in a savings account paying interest of 4% compounded annually what amount will be in the account at the end of 5 years?

• A) $32878
• B) $48000
• C) $48620
• D) $48666

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Definitions:

Designers

Professionals who plan, conceptualize, and create visual solutions or products, considering aesthetic and functional aspects.

Marketers

Professionals involved in the identification, anticipation, and satisfaction of customer needs and desires, usually through the development and promotion of products or services.

Design Thinking

An approach that uses sensitivity to users' needs and a collaborative spirit to solve complex problems, often producing innovative solutions.

Collaboration

The process of two or more people, entities, or organizations working together to complete a task or achieve a goal by sharing knowledge, learning, and building consensus.