Eric Has $4,800 That He Wants to Invest for 4

question 16

Multiple Choice

Eric has $4,800 that he wants to invest for 4 years.He can invest this amount at his credit union and earn 4 percent simple interest.Or,he can open an account at Compass Bank and earn 3.65 percent interest,compounded annually.If he decides to invest at Copmpass Bank for 3 years,he will:

• A)earn $15.02 more than if he had invested with his credit union.
• B)earn $27.89 less than if he had invested with his credit union.
• C)earn the same amount as if he had invested with the credit union.
• D)have a total balance of $4,992 in his account after one year.
• E)have a total balance of $4,876 in his account after one year.

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Definitions:

Decentralized Political

Characterizes a system where political power is distributed among various levels of government, rather than being concentrated in a central authority.

Strong Devotion

Intense loyalty or commitment to a cause, person, or belief, often surpassing ordinary expectations.

Hereditary Rulers

Monarchs or leaders whose position is passed down within a family, often from parent to child, based on the principles of hereditary succession.

Nomadic Existence

A lifestyle characterized by moving from one place to another rather than settling permanently in one location, often for reasons such as seasonal resource availability.