If Money Is Invested for 3 Years with Interest Compounded $1 + r$

question 36

Multiple Choice

If money is invested for 3 years with interest compounded annually, the future value of the investment varies directly as the cube of $1 + r$ r, where r is the interest rate. If the future value of the investment is $9317.00 when the
Rate is 10%, what rate gives a future value of $8575.30? Round to the nearest whole percent.

• A) 6%
• B) 8%
• C) 7%
• D) 9%

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Definitions:

White Superiority

The belief or ideology that white people are superior to those of all other races, especially the black race, and should therefore dominate society.

Social Rank

A hierarchical position within a society based on factors like wealth, occupation, education, and lineage.

Caste System

A traditional social stratification system observed within certain cultures, notably in India, defined by hereditary classes.

Constitutionally Abolished

The formal removal of laws or practices through amendments to a constitution, making them legally invalid.