You Deposit $2000 in an Account

question 110

Multiple Choice

You deposit $2000 in an account. At the end of 21 years, your balance is $10671.45. The bank tells you that the annual interest rate for the account is 8%. How is the interest compounded?

• A)quarterly
• B)yearly
• C)monthly
• D)daily
• E)continuously

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Definitions:

Health Maintenance

The practice of adopting lifestyle behaviors and healthcare strategies aimed at preventing diseases and preserving health.

Obsessive-Compulsive Disorder

A mental health disorder characterized by uncontrollable, reoccurring thoughts (obsessions) and behaviors (compulsions).

Schizophrenia

An emotional and cognitive impairment marked by deviation in thoughts, perception of reality, emotional expression, and social conduct.

Posttraumatic Stress Disorder

An emotional well-being issue stemming from living through or seeing a distressing event, identified by replaying memories, terrifying dreams, and extreme nervousness.