$1,000 Deposited in a Bank That Earns 7% Per Year

question 101

True/False

$1,000 deposited in a bank that earns 7% per year will become approximately $7,600 in 30 years.

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Definitions:

PLC Programming Languages

Languages developed to create programs for Programmable Logic Controllers, including Ladder Diagram, Function Block Diagram, and Structured Text.

Graphical Language

A visual programming language where the user creates programs by manipulating graphical elements rather than writing textual code.

Function Block Diagram

A graphical programming language used in PLCs and other control systems, representing functions between input and output.

Ladder Diagram

A graphical representation of a program used in PLC (Programmable Logic Controller) programming, resembling the rungs of a ladder, where each rung represents a unique logic operation.