How Much Interest Can Be Accumulated During One Year on a $1,000

question 98

Multiple Choice

How much interest can be accumulated during one year on a $1,000 deposit paying continuously compounded interest at an APR of 10%?

• A) $100.00
• B) $105.17
• C) $110.50
• D)$115.70

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Definitions:

Deep Processing

A method of learning in which information is analyzed in a meaningful way, promoting better retention and understanding.

Chunking

Chunking refers to the process of organizing or grouping separate pieces of information into a single larger unit to improve memory recall.

Encoding Processes

Cognitive operations involved in transforming sensory information into a form that can be stored and recalled from memory.

Shallowly

Shallowly describes actions or processes that lack depth, insight, or thoroughness, often leading to superficial outcomes or understandings.