Suppose There Is No Inflation,and the Current Interest Rate Is

question 68

Multiple Choice

Suppose there is no inflation,and the current interest rate is 4% per year.Erin plans to open a savings account and deposit $100 annually for the next 5 years.She plans to leave this money untouched for 10 more years.At the end of the period,the balance of her savings account will be

• A) 2500(1.04⁵ - 1).
• B) 2000(1.04¹⁵-1).
• C) 2000(1.04⁵ - 1)(1.04)¹⁰.
• D) 2500(1.04⁵ - 1)(1.04)¹⁰.

---

Definitions:

Insert Options Button

A feature in many software applications that provides quick access to various insertion commands, such as adding tables, images, or symbols.

Formatting Options

Various settings and controls in software that allow the user to alter the appearance and layout of text, data, or graphics.

Order of Operations

A set of rules used in mathematics to determine the sequence in which operations should be performed.

Brackets

Punctuation marks used to enclose words or numbers, clarifying meaning, indicating interjections, or denoting mathematical operations.