If $1,000 Is Invested at 3 Percent Per Year for 10

question 157

Multiple Choice

If $1,000 is invested at 3 percent per year for 10 years, the investment grows to $1,343.92. This means that the present value of $1,343.92 at an interest rate of 3 percent 10 years from now is

• A) 3 percent.
• B) $1,000.
• C) $343.92.
• D) $1,343.92.

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Definitions:

Motivational Theory

A concept that explains what motivates individuals to behave in certain ways, focusing on the drivers of human actions.

Pursuing Goals

The process of setting, striving for, and working diligently to achieve specific objectives or outcomes.

Expectancies

Beliefs or predictions about the likelihood of future events affecting behavior and decision-making.

Schemas

Cognitive frameworks or concepts that help individuals organize and interpret information, based on their past experiences and knowledge.