Compounding with Different Interest Rates a Deposit of $1,000 Earns

question 27

Multiple Choice

Compounding with Different Interest Rates A deposit of $1,000 earns the following interest rates:
8 percent in the first year
7 percent in the second year,and
8 percent in the third year.
What would be the third year future value?

• A)$1,082.15
• B)$1,230.00
• C)$1,248.05
• D)$,3030.00

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Definitions:

Product Features

Product features are the attributes or characteristics that define a product, distinguish it from competitors, and meet the needs or desires of customers.

Trial Close

A sales technique used to gauge a potential buyer's interest or intention to buy by asking a question or making a statement that assumes the sale has been made.

Selling Points

Key features or benefits of a product or service that are highlighted to attract and convince potential buyers.

Extensive Decision Making

Decision-making characteristic of buyers who are unfamiliar with a specific product and who must therefore become highly involved in the decision-making process.