An Amount P , Invested at a Simple Interest Rate $A = \rho ( 1 + r t )$

question 62

Multiple Choice

An amount P , invested at a simple interest rate r , will grow to an amount A in t years according to the formula $A = \rho ( 1 + r t )$ . Suppose a man invested some money at 5.1%. If after 5 years, he had $7,216.25 on deposit, what amount did he originally invest?

• A) $5,760.00
• B) $5,750.00
• C) $5,720.00
• D) $5,710.00
• E) $5,770.00

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Definitions:

Reciprocal Determinants

Factors that mutually influence each other, as in the interplay between an individual's behavior, personal factors, and environment.

Determinism

The philosophical belief that all events, including moral choices, are completely determined by previously existing causes.

Triadic Reciprocality

A concept in social cognitive theory suggesting that human behavior is influenced by the interaction of personal factors, behavior, and the environment.

Cognitive Factors

Refer to mental processes such as perception, memory, and reasoning that influence behavior and learning.