A Yearly Deposit of $10,000 Is Made into an Account

question 12

Short Answer

A yearly deposit of $10,000 is made into an account that pays 4.7% interest per year, compounded annually. What is the balance right after the 8^th deposit? Round to the nearest cent.

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Definitions:

Dependent Variable

The outcome variable being measured in an experiment or study, which is hypothesized to depend on or be affected by the independent variable(s).

Treatment Effectiveness

The degree to which a treatment achieves its intended outcome(s) in a real-world (clinical or practical) setting.

Between-Groups Designs

Experimental designs where different groups of participants are exposed to various conditions or treatments, allowing for comparisons between group outcomes.

Posttest-Only Control

A research design where subjects are assigned to experimental or control groups and are tested on the dependent variable only after the treatment.