If $\$ 600$ Is Invested At $4 \%$ Interest, Compounded Annually, Then After

question 53

Multiple Choice

If $\$ 600$ is invested at $4 \%$ interest, compounded annually, then after $n$ years the investment is worth $a _ { n } = 600 ( 1.04 ) ^ { n }$ dollars. Find the size of investment after 7 years.

• A) \(\$ 430.21\)
• B) \(\$ 1,860.81\)
• C) \(\$ 1,230.81\)
• D) \(\$ 789.56\)
• E) \(\$ 1,321.06\)

---

Definitions:

Democratic State

A form of government in which power is held by elected representatives and/or directly by the people, characterized by free and fair elections, and the protection of civil liberties.

Modern Democracies

Refers to political systems where citizens have the power to make decisions about government policies and leaders through free and fair elections.

Controlling State

A government that exercises extensive or over-reaching control over the political, economic, and social life of its citizens.

Political Parties

are organized groups of people with similar political aims and opinions, that seek to influence public policy by getting their candidates elected to public office.