If $10,000 Is Received and Deposited at 10% at the End

question 142

Multiple Choice

If $10,000 is received and deposited at 10% at the end of each of the next six years, how much will be in the account after the last payment is deposited?

• A)$96,000
• B)$77,156
• C)$43,553
• D)$87,355

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Definitions:

"BIRGing"

"Basking in Reflected Glory," a social phenomenon where individuals associate themselves with the success of others to improve their self-esteem.

Cialdini

Refers to Robert Cialdini, an American psychologist known for his research on social influence, persuasion, and marketing.

Procrastination

The tendency to delay tackling tasks until the last minute.

Self-efficacy

An individual's belief in their own capability to execute behaviors necessary to produce specific performance attainments.