If You Put $2,000 in a Savings Account That Yields

question 102

Multiple Choice

If you put $2,000 in a savings account that yields 8% compounded semiannually,how much money will you have in the account in 20 years (rounded to nearest $10) ?

• A) $6,789
• B) $8,342
• C) $9,602
• D) $9,972

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Definitions:

Universality

The quality of being true or applicable in all situations, contexts, or cases.

Self-Actualization

The process by which an individual realizes their own abilities and strives to achieve their full potential.

Humanism

A philosophical and ethical stance that emphasizes the value and agency of human beings, individually and collectively.

Cognitive Perspective

A psychological approach that emphasizes mental processes such as perception, memory, and problem-solving.