Compounding with Different Interest Rates a Deposit of $700 Earns

question 2

Multiple Choice

Compounding with Different Interest Rates A deposit of $700 earns interest rates of 10 percent in the first year and 7 percent in the second year.What would be the second year future value?

• A)$771.07
• B)$819.00
• C)$823.90
• D)$1519.00

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Definitions:

Ductless Glands

Glands that release hormones directly into the bloodstream without using ducts, also known as endocrine glands.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.

Somatic

Pertaining to or affecting the body, especially as distinct from the mind or psyche.

Neurotransmitters

Chemical substances released at the end of a nerve fiber by the arrival of a nerve impulse and, by diffusing across the synapse or junction, cause the transfer of the impulse to another nerve fiber, a muscle fiber, or some other structure.