Using an Annual Interest Rate of 9%, How Long Will

question 104

Multiple Choice

Using an annual interest rate of 9%, how long will it take a deposit of $1,000 to grow to $3,000, assuming no additional deposits are made?

• A)8.04 years
• B)10.00 years
• C)11.11 years
• D)12.75 years
• E)13.50 years

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Definitions:

Interest

The feeling of wanting to know or learn about something or someone.

Avoidance Learning

A process in behavioral psychology where a subject learns to prevent or avoid an unpleasant stimulus by making particular responses.

Learned Helplessness

A condition where individuals learn to believe that they have no control over their situation, often leading to a lack of motivation and depression.

Extinction Learning

A process in cognitive psychology and behavioral therapy where a conditioned response gradually diminishes and eventually disappears as the conditioned stimulus is no longer paired with an unconditioned stimulus.