If You Invest $1,000 Today at 8% Interest Compounded Monthly

question 208

Multiple Choice

If you invest $1,000 today at 8% interest compounded monthly, how much money will you have in 1 year?

• A)$1,080
• B)$1,083
• C)$1,086
• D)$1,090

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Definitions:

Plato

An ancient Greek philosopher, a student of Socrates and teacher of Aristotle, who founded the Academy in Athens and wrote philosophical dialogues.

Schiller

Friedrich Schiller was a German poet, philosopher, historian, and playwright who became known for his dramatic works and his aesthetic philosophy that influenced European Romanticism.

Art

A diverse range of human activities and the products of those activities, which express imaginative, conceptual, or technical skill, intended to be appreciated for their beauty or emotional power.

Child's Education

The formal and informal learning and training provided to a child, which includes basic skills, knowledge, and values.