If You Invest $47 000 for Five Years at 9

question 56

Multiple Choice

If you invest $47 000 for five years at 9.7% p.a.(interest paid annually and then reinvested) ,what is the value of your investment at the end of the five-year period?

• A)$81 910.13
• B)$74 667.39
• C)$56 560.22
• D)$62 046.56

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Definitions:

Establishment Clause

The Establishment Clause is part of the First Amendment to the US Constitution, prohibiting the government from making any law respecting an establishment of religion, thereby ensuring a separation of church and state.

Separation of Church and State

The separation of church and state is a principle that mandates the government must maintain an impartial stance on religious matters and prohibits the establishment of a state religion.

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the U.S. Constitution in 1789 due to its inadequacies.