Justin Invests $4,000 in a Savings Account for Two Years

question 21

Multiple Choice

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually. How much money will be in the account at the end of the second year?

• A) $4,161.60
• B) $4,160.00
• C) $4,080.00
• D) $1,161.60

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Definitions:

Level Shift

A sudden, lasting change in the time series data that can significantly affect the data's trend, usually detected through statistical analysis.

Cycle

In the context of data analysis, a period or sequence of events that repeats regularly.

Trend

The general direction in which something is developing or changing over time.

Control Chart

A graphical tool used in process control to display how a process changes over time, highlighting whether the process stays within predetermined control limits.