Bradley Snapp Has Deposited $7,000 in a Guaranteed Investment Account

question 51

Multiple Choice

Bradley Snapp has deposited $7,000 in a guaranteed investment account with a promised rate of 6% compounded annually.He plans to leave it there for 4 full years when he will make a down payment on a car after graduation.How much of a down payment will he be able to make?

• A)$1,960.00
• B)$2,175.57
• C)$8,960.00
• D)$8,837.34
• E)$9,175.57

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Definitions:

Managerial Success

Achieving organizational goals effectively and efficiently through planning, organizing, leading, and controlling resources.

Communication Process

The method by which information is transferred and understood between two or more parties, involving elements like sender, message, medium, receiver, and feedback.

Joint Decisions

The outcome of a decision-making process that involves collaboration or agreement between two or more parties or stakeholders.

Management By Objectives

A management strategy where goals are defined clearly for each employee, and performance is evaluated based on the achievement of these goals.