You Believe in the Power of Compounding and Decide to Save

question 10

Multiple Choice

You believe in the power of compounding and decide to save $1 per day by avoiding the purchase of a soda.You deposit the $1 at the end of each day in a bank account that pays 8% interest compounded daily.You are going to take a trip in 20 years with the money you have accumulated.How much money will you have in 20 years,assuming 365 days per year?

• A) $7,500
• B) $12,438
• C) $18,032
• D) $22,456

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Definitions:

Conductive Hearing Loss

A type of hearing loss that occurs when sound is not efficiently conducted through the outer ear canal to the eardrum and the tiny bones of the middle ear.

Cerumen Impaction

A blockage in the ear canal due to the buildup of earwax (cerumen), which can lead to hearing issues and discomfort.

Effective Communication

The ability to convey information to another effectively and efficiently.

Enunciating

The act of pronouncing words clear and distinctively.