Jane Deposited $1000 into a Saving Account Paying 12% Interest

question 24

Multiple Choice

Jane deposited $1000 into a saving account paying 12% interest compounded continuously.After 45 years, how much money did she have in the account?

• A)$25,759.09
• B)$157,896.32
• C)$221,406.42
• D)$257,895.78

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Definitions:

Instinct

The inherent inclination of a living organism towards a particular complex behavior, driven by the need to survive and reproduce.

Incentives

Things that attract or lure people into action.

Biological Needs

Fundamental requirements that organisms must fulfill to maintain their bodily functions and ensure survival, such as the need for food, water, and shelter.

Drive

A psychological tension and physical arousal arising when there is a need that motivates the organism to act in order to fulfill the need and reduce the tension.