The Amount You Must Deposit Now in Your Savings Account

question 49

Multiple Choice

The amount you must deposit now in your savings account paying 6% interest in order to accumulate $6000 for a down payment 5 years from now on a new car is

• A) $1200.
• B) $4484.
• C) $4477.
• D) $4200.

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Definitions:

Gerrymandering

The practice of manipulating electoral district boundaries to favor one party or class, often leading to disproportionate political influence.

Single-Member Electoral System

An electoral system in which constituencies elect one representative each to a legislative body.

Proportional Representation

An electoral system in which parties gain seats in proportion to the number of votes cast for them. This system aims to ensure that political representation is more accurately reflected.

Aggregate Interests

The combined concerns, wants or needs of a group of people that are collected to represent or reflect a broader public interest.