Assume That,to Help Build Your Nest-Egg,you Made Two Deposits of $100,one

question 117

Multiple Choice

Assume that,to help build your nest-egg,you made two deposits of $100,one on January 1,2014,and one on July 1,2014,in a savings account that paid 10 percent compounded semiannually.On January 1,2015,the bank increased the interest rate paid on savings accounts to 12 percent,annual compounding.Then you made a third $100 deposit on April 1,2015.How much should there be in your account on January 1,2016?

• A) $353.08
• B) $349.95
• C) $355.27
• D) $362.10
• E) $338.43

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Definitions:

Freudian System

A psychoanalytic theory developed by Sigmund Freud that emphasizes the role of unconscious processes in shaping personality, behaviors, and thoughts, including the id, ego, and superego.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing behaviors and interactions.

Personality Trait Inferences

The process of deducing aspects of a person's character based on observable behaviors, expressions, and actions.

High-End Market

A market segment that caters to consumers seeking premium products and services often associated with luxury and high quality.