Connie Made Deposits of $2,000 at the Beginning of Each

question 88

Multiple Choice

Connie made deposits of $2,000 at the beginning of each year for four years. The rate she earned is 5% annually. What is the value of Connie's account in four years?

• A)$11,051.00
• B)$8,260.20
• C)$8,260.00
• D)$9,051.20
• E)None of these

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Definitions:

Cohort

A group of individuals sharing a common characteristic, typically born around the same time, and studied to observe how specific variables affect them over time.

Concept

A mental category used to represent a class or group of objects, people, organizations, events, situations, or relations that share common characteristics or attributes.

Template

A preset model or pattern that serves as a guide for the creation or replication of objects, documents, or designs.

Concepts

General ideas or understandings that are used to group together objects, events, qualities, or abstractions that are similar in some way.