Assume That $1,200 Is Deposited in an Account in Which

question 104

Multiple Choice

Assume that $1,200 is deposited in an account in which interest is compounded 8 times a year, at an annual rate of 7%.Find the accumulated amount after 3 years.Round your answer to the nearest cent.

• A)$1,579.06
• B)$1,779.06
• C)$1,379.06
• D)$1,429.06
• E)$1,479.06

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Definitions:

Aggregate Demand

The total demand for goods and services within a particular market or economy at current price levels.

Price Level

The price level is an index that measures the average prices of goods and services in an economy over a period of time.

Real GDP

measures the value of all goods and services produced by an economy in a specific period, adjusted for inflation.

Government Expenditures

The total amount of money the government spends, including spending on goods, services, and transfer payments.