MrNailor Invests $5,000 in a Certificate of Deposit at His

question 88

Multiple Choice

Mr.Nailor invests $5,000 in a certificate of deposit at his local bank.He receives annual interest of 8% for 7 years.How much interest will his investment earn during this time period?

• A) $2,915
• B) $3,569
• C) $6,254
• D) $8,570

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Definitions:

Civil Service

A sector of government composed mainly of career bureaucrats hired on professional merit rather than appointed or elected, whose role is to implement government policy.

Pendleton Act

A United States federal law enacted in 1883 which established that positions within the federal government should be awarded on the basis of merit instead of political affiliation.

Federal Employees

Individuals who work within one of the departments or agencies of the United States government.

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The process of improving the efficiency, effectiveness, and accountability of administrative agencies and their officials.