Find the Amount of Money in an Account After 7

question 171

Multiple Choice

Find the amount of money in an account after 7 years if $2900 is deposited at 8% annual interest compounded semiannually.

• A) $5048.97
• B) $5021.86
• C) $5067.52
• D) $4970.09

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Definitions:

Psychokinesis

The claimed paranormal ability to move or manipulate objects with the mind without physical interaction.

Telepathy

The claimed ability to communicate thoughts or emotions directly from one mind to another without using speech, writing or any other conventional signals.

Clairvoyance

The presumed capability to acquire knowledge concerning an entity, person, place, or event in the physical world through means beyond the usual sensory perception.

Schema

A cognitive framework that organizes and interprets information in the brain.