Tony Just Received His Checking Account Statement from His Bank

question 65

Multiple Choice

Tony just received his checking account statement from his bank. He has a NOW account with free checking that pays 0.75% APR on the balance and requires a $500 minimum balance. His statement shows that he currently has a balance of $3,950. In looking at his statement he notices that his car payment check for $400 is still outstanding, and that his recently received payroll deposit of $3,600 had not posted at the time the statement was created. His normal living expenses average $1,500 per month including his car payment. Other than his car loan, he rarely writes any checks as he prefers to use his debit card and ATM card for day-to-day living expenses. He pays his credit card balance in full every month. Other than his checking account he does not own any investments. He has always dreamed of owning a house, and would like to buy one within the next five years. He has access to a 401K pension plan at work where his employer will match contributions up to 6% of his salary. He currently contributes 2% of his salary to this plan.
-Tony would like to have $10,000 for a house downpayment five years from now. How much money would he need to save every quarter in an investment that pays 8% APR compounded quarterly?

• A) $411.57
• B) $1,704.56
• C) $218.52
• D) $504.55

Recognize the effects of cutting a magnet on its magnetic properties.

Describe natural sources of magnetism and their significance.

Explain the behavior of magnetic lines of force and the concept of magnetic domains.

Understand the relationship between electricity and magnetism, including electromagnetism.

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Definitions:

Centered

Focuses on placing importance or emphasis on a particular element or aspect in a context or situation.

Mental Module

The concept of specialized, domain-specific regions or networks in the brain responsible for various cognitive functions.

Preoperational Stage

According to Piaget, the stage of thinking between infancy and middle childhood, in which children are unable to decenter their thinking or to think through the consequences of an action.

Decenter

The cognitive ability to consider multiple aspects of a situation simultaneously, characteristic of more advanced stages of cognitive development.