How Much Interest Is Earned in Just the Third Year

question 108

Multiple Choice

How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?

• A) $70.00
• B) $80.14
• C) $105.62
• D) $140.00

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Definitions:

Carefree

Lacking serious worries, responsibilities, or duties; possessing a light-hearted and untroubled outlook.

Stereotypes

Widely held but fixed and oversimplified images or ideas about a particular type of person or thing, which can influence perceptions and behavior.

Intimate Partner Violence

Physical, sexual, emotional, or psychological harm by a current or former partner or spouse, regardless of the presence of a sexual relationship.

Age Bracket

A range of ages grouped together for statistical analysis, often used in research and marketing.