Scenario: Tom Has Two Investment Options

question 45

Multiple Choice

Scenario: Tom has two investment options. He can either invest $3,000 in a friend's project or he can deposit the same amount in a bank that offers him an annual rate of interest of 6 percent. If he invests in his friend's project, he will receive $3,400 after 5 years.
-Refer to the scenario above.What will be the balance in Tom's account after 5 years if he deposits $3,000 in the bank?

• A) $3,222.64
• B) $3,400
• C) $4,014.68
• D) $4,111.78

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Definitions:

Demographics

Statistical data related to the characteristics of a population, such as age, gender, income, and education.

Psychographics

The analysis and grouping of individuals according to psychological characteristics like their desires and viewpoints, chiefly applied in marketing studies.

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A group of people who share the same interest in specific types of products or services and interact with each other around this shared interest.

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