If Kelly Cranford Invests $11970 Now She Will Receive $40000

question 53

Short Answer

If Kelly Cranford invests $11970 now she will receive $40000 at the end of 14 years. What annual rate of return will Kelly earn on her investment?

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Definitions:

Secondary Circular Reactions

The repetition of actions that produce an interesting effect, part of Piaget's theory of cognitive development in infants, occurring roughly between 4 to 8 months of age.

Simple Reflexes

Inborn automatic responses to certain stimuli that are present from birth, such as the sucking reflex in infants.

Mental Representations

Internal cognitive symbols that represent external reality, allowing individuals to process information and make sense of the world.

Primary Circular Reactions

Repetitive actions focused on the body that infants engage in by chance and then continue because they find them pleasurable, marking a stage in sensorimotor development.