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:

Passive

A state or quality of acceptance or submission without active response or resistance.

Self-confidence

A person's belief in their own abilities, qualities, and judgment, fostering a positive view of oneself.

Self-efficacy

A person's confidence in their capability to achieve success in particular scenarios or complete a given task.

Self-image

The mental picture one forms about oneself, encompassing beliefs, attitudes, and perceptions about personal ability and appearance.