Jim Moore Opens a New Savings Account

question 105

Multiple Choice

Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Jim Moore's account is (use the tables in the handbook) :

• A)$66,081.20
• B)$50,000.00
• C)$16,081.20
• D)$88,555.42
• E)None of these

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Definitions:

Narrow Spans Of Control

An organizational structure with a small number of subordinates reporting directly to a manager, allowing for closer supervision.

Adaptive Organizations

Entities that have the ability to adapt and transform in reaction to shifts in market environments, obstacles, and prospects.

Tall Structures

An organizational structure characterized by many levels of hierarchy, with a large number of management levels between the top executives and the lower-level employees.

Authority-And-Responsibility Principle

The principle that authority should equal responsibility when work is delegated.