Assuming an Interest Rate of 10%, If You Invest a Lump

question 175

Multiple Choice

Assuming an interest rate of 10%, if you invest a lump sum of $5,000 now, the balance of your investment in 7 years will be closest to

• A)$12,970.
• B)$9,745.
• C)$23,340.
• D)$35,000.

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Definitions:

Demonstration

A public gathering of people to display support for or opposition against policies, actions, or causes, usually in a peaceful manner.

Tort Of Deceit

A legal wrong that involves intentionally making false representations to another, causing harm.

Rescission

Rescission is the legal act of canceling or terminating a contract, returning all parties involved to their positions before the contract was entered into.

Misrepresentation

A false statement or lie that induces someone to enter into a contract.