You Deposit $1,000 in a Long-Term Certificate of Deposit with an Interest

question 57

Multiple Choice

You deposit $1,000 in a long-term certificate of deposit with an interest rate of 9%. How many years will it take for you to triple your deposit? Pick the closest answer.

• A) 11 years
• B) 12 years
• C) 13 years
• D) 14 years

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Definitions:

Death Instinct

In psychoanalytic theory, the drive towards death and self-destruction, opposing the life instincts.

Psychoanalysis

A therapeutic approach and theory of personality development that emphasizes unconscious motives and conflicts, originated by Sigmund Freud.

Childhood Trauma

Distressing experiences that occur during childhood, which can have long-lasting emotional and psychological effects.

Repression

In psychoanalytic theory, a mechanism of defense by means of which thoughts, impulses, or memories that give rise to anxiety are pushed out of consciousness.