Assume That $100 Is Deposited at the End of Each

question 242

Multiple Choice

Assume that $100 is deposited at the end of each period in an account in which interest is compounded at the frequency k = 12, at an annual rate of 11%.Find the accumulated amount after 9 years.Round to
The nearest cent.

• A)$18,317.72
• B)$18,331.92
• C)$18,296.20
• D)$18,274.67
• E)$18,285.12

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Definitions:

Rooting Reflex

A reflex in which infants turn their mouths and heads in the direction of a stroking of the cheek or corner of the mouth.

Stimulus

A stimulus is any event or situation that evokes a sensory or behavioral response in an organism.

Cheek

The soft, fleshy part of the face below the eye and between the nose and ear, often associated with expressions of affection.

Classical Conditioning

A learning process through which an association is formed between a naturally occurring stimulus and a previously neutral stimulus.