What Is the Compound Interest Earned on Josef's Principal of $2,750

question 45

Multiple Choice

What is the compound interest earned on Josef's principal of $2,750 at 8% interest compounded quarterly for 2 years? Round to the nearest cent after each calculation.

• A) $327.86
• B) $440.00
• C) $472.06
• D) $620.00

---

Definitions:

Temperament

The term for the individual modes of responding to the environment that appear to be consistent across situations and stable over time. Temperament includes such characteristics as children’s activity level, their intensity of reaction, the ease with which they become upset, their characteristic responses to novelty, and their sociability.

Innate Propensities

Natural tendencies or inclinations that individuals are born with.

Social Development

The process by which individuals acquire the values, behaviors, and social skills necessary for functioning effectively in society.

Personality Formation

The process through which children develop their own unique patterns of feeling, thinking, and behaving in a wide variety of circumstances.