If $100 Is Placed in an Account That Earns a Simple

question 19

Multiple Choice

If $100 is placed in an account that earns a simple 4 percent,compounded quarterly,what will it be worth in 5 years?

• A) $122.02
• B) $105.10
• C) $135.41
• D) $120.90
• E) $117.48

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Definitions:

Consumer Product Safety Act

A United States federal law, enacted in 1972, that establishes guidelines and authority to regulate the safety of consumer products.

FTC Act

A United States law, established in 1914, aimed at promoting competition and protecting consumers from misleading or deceptive practices.

Digital Millennium Copyright Act

A United States law that addresses the rights of copyright holders, aimed at curbing copyright infringement, especially on the Internet.

Lanham Act

The Lanham Act is a federal statute that provides legal protection for trademarks, service marks, and trade dress, helping prevent consumer confusion and unfair competition.