If You Invest $7,000 at the End of Each Year

question 44

Multiple Choice

If you invest $7,000 at the end of each year for seven years and you earn 7% interest compounded annually, how much will you have accumulated at the end of the seventh year to the nearest dollar?

• A) $10,430
• B) $60,578
• C) $52,430
• D) $49,490

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Definitions:

Psychodynamic Therapies

A group of therapies that focus on uncovering and understanding unconscious motivations and early childhood influences on behavior.

Interpersonal Relationships

The connections and interactions between two or more people, ranging from casual acquaintances to close, personal relationships.

Maladaptive Symptoms

Behaviors or actions that are counterproductive to coping with and adapting to situation/environmental demands and stresses.

Classical Conditioning Therapies

Psychological treatments based on learning through association, aiming to modify undesirable behaviors by pairing them with new responses.