Your Bank Pays 9% Interest, Compounded Annually

question 27

Multiple Choice

Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now to yield an annuity payment of $800 at the END of each year, for 10 years.

• A) $5,134.13
• B) $6,099.86
• C) $5,596.20
• D) $6,454.28

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Definitions:

ADHD

Attention Deficit Hyperactivity Disorder is a brain-based, developmental disorder marked by distractibility, excessive energy, and impulsive actions.

Cognitive Behavioral Therapies

A variety of psychotherapeutic approaches that aim to solve problems by changing dysfunctional emotions, behaviors, and thoughts.

ADHD

Attention Deficit Hyperactivity Disorder, a neurodevelopmental disorder characterized by patterns of behavior that include inattention, hyperactivity, and impulsivity.

Dyslexia

A learning disorder characterized by difficulties with accurate and/or fluent word recognition, poor spelling, and decoding abilities.