Hector Puts $150 into an Account When the Interest Rate

question 107

Multiple Choice

Hector puts $150 into an account when the interest rate is 4 percent.Later he checks his balance and finds he has about $168.73.How long did Hector wait to check his balance?

• A)3 years
• B)3.5 years
• C)4 years
• D)4.5 years

---

Definitions:

Industrial Nations

Countries that are characterized by a significant level of industrialization, a high standard of living, and a well-developed infrastructure.

Incentive

A motivator or reward that encourages specific actions or behaviors, often used in economic and business contexts to influence decision-making.

Cost Of Living

The overall expense required to maintain a certain standard of living, including basic expenses such as housing, food, taxes, and healthcare.

Recession Of 2001

A brief economic downturn in the United States that occurred in the early 2000s, marked by a decline in the stock market and increased unemployment.