If a Bank Will Pay 15% Interest Compounded Annually on a $1,000

question 74

Multiple Choice

If a bank will pay 15% interest compounded annually on a $1,000 deposit today, the depositor will receive how much at the end of 2 years?

• A)$1,150.00
• B)$1,300.00
• C)$1,322.50
• D)$1,645.00

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Definitions:

Correlation Coefficient

A statistical measure that calculates the strength and direction of a relationship between two numerical variables.

Measurement Consistency

How much a test tool provides uniform and steady outputs through time.

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A research method in psychology used to study the effects of genetics and environment by comparing the similarities and differences between identical and fraternal twins.

Adoption Studies

Research studies that compare adopted children to their biological and adoptive families to understand the relative influence of genetic and environmental factors on human development.