If $30,000 Is Deposited in a Savings Account at the End

question 36

Multiple Choice

If $30,000 is deposited in a savings account at the end of each year and the account pays interest of 5% compounded annually, what will be the balance of the account at the end of 10 years?

• A)$48,867
• B)$315,000
• C)$377,337
• D)$450,000

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Definitions:

Egalitarian

Relating to or believing in the principle that all people are equal and deserve equal rights and opportunities.

Sensitivity

The quality of being easily affected by external inputs or changes, often referring to emotional acuteness or responsiveness to stimuli.

Authoritative Parenting

A parenting style characterized by high responsiveness and high demands, blending a caring tone with structure and rules.

Gender Awareness

The understanding of the social constructions and roles associated with gender, often developed in early childhood.