Use the Table to Solve the Problem

question 17

Multiple Choice

Use the table to solve the problem. Round to the nearest cent.
-Andrea Gilford's savings account has a balance of $73. After 4 years, what will the amount of interest be at 8% compounded quarterly?

• A)$27.21
• B)$18.21
• C)$32.21
• D)$2.92

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Definitions:

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Slavery Expansion

Refers to the historical period in which the institution of slavery grew and spread, particularly in the United States during the 19th century.

Abolition

The movement aimed at ending the slave trade and freeing enslaved people, especially prevalent in the 19th century in the United States and Britain.