Solve. -Find the Amount of Money in an Account After 12

question 207

Multiple Choice

Solve.
-Find the amount of money in an account after 12 years if a principal of $2800 is invested at 3.8% interest compounded quarterly.

• A) $4380.53
• B) $ 7796.11
• C) $4408.20
• D) $4414.52

---

Definitions:

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for an additional unit of another good, while keeping utility constant.

Wheat

A cereal grain, originally from the Levant region of the Near East but now cultivated worldwide, which is a staple food in many parts of the world.

Milk

A nutrient-rich liquid food produced in the mammary glands of mammals, commonly consumed by humans as a beverage or used in the production of various dairy products.

Pareto Optimal

A situation or allocation of resources from which it is impossible to reallocate to make any one individual better off without making at least one individual worse off.