You Have $2,500 That You Want to Use to Open

question 40

Multiple Choice

You have $2,500 that you want to use to open a savings account. You have found five different accounts that are acceptable to you. All you have to do now is determine which account you want
To use such that you can earn the highest rate of interest possible. Which account should you use
Based upon the annual percentage rates quoted by each bank?
Account A: 3.75%, compounded annually
Account B: 3.70%, compounded monthly
Account C: 3.70%, compounded semi-annually
Account D: 3.65%, compounded continuously
Account E: 3.66%, compounded quarterly

• A) Account A
• B) Account B
• C) Account C
• D) Account D
• E) Account E

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Definitions:

Elderly Abuse

The physical, emotional, or financial harm inflicted on older individuals, often by caregivers or relatives.

Drug Addiction

Drug addiction is a chronic disease characterized by compulsive, or uncontrollable, drug seeking and use despite harmful consequences.

Care Stress

the stress experienced by caregivers due to the demands and responsibilities of caring for someone, often leading to emotional, physical, and financial strain.

Child Abuse

Any act or failure to act that results in harm, potential for harm, or threat of harm to a child, including physical, emotional, or sexual abuse, as well as neglect.