Solve the Problem $\mathrm { A } = \mathrm { P } \left( 1 + \frac { \mathrm { r } } { \mathrm { n } } \right) ^ { \mathrm { nt } }$

question 186

Multiple Choice

Solve the problem.
-Find out how long it takes a $3000 investment to earn $300 interest if it is invested at 8% compounded quarterly. Round to the nearest tenth of a year. Use the formulala $\mathrm { A } = \mathrm { P } \left( 1 + \frac { \mathrm { r } } { \mathrm { n } } \right) ^ { \mathrm { nt } }$

• A)1.4 yr
• B)1.6 yr
• C)1.2 yr
• D)1 yr

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Definitions:

Preconventional Morality

The first level in Kohlberg's theory of moral development, where understanding of right and wrong is based on rewards, punishment, and the power of authority figures.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Individual Contribution

The unique input or effort one person provides towards a group task or project.

Pluralistic Ignorance

A social psychological phenomenon where a majority of group members privately reject a norm, but incorrectly assume that most others accept it, and therefore go along with it.