Use the Compound Interest Formula to Compute the Total Amount

question 23

Multiple Choice

Use the compound interest formula to compute the total amount accumulated.
-$4000 for 3 years at 2% compounded annually

• A) $4240.00
• B) $4244.83
• C) $4160.00
• D) $4161.60

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Definitions:

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Gross Domestic Product

A measure of the economic output of a country, calculated as the total value of all goods and services produced over a specific time period.

Human Sustainability

The practice of ensuring that actions and policies today do not diminish the health, welfare, and opportunities for future generations of humans.

Organizational Stakeholders

Individuals or groups who have an interest or stake in the success and operations of an organization, such as employees, customers, investors, and suppliers.