If You Place $100 in a Bank Account That Pays

question 47

Multiple Choice

If you place $100 in a bank account that pays 6% at the end of each year,and you leave your $100 and all your interest in the bank,how much will you have in the bank at the end of seven years with annual compounding?

• A)(106)⁷.
• B)7 ∗ (106).
• C)100 ∗ (1.60)⁷.
• D)100 ∗ (1.06)⁷.

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Definitions:

Adopted Children

Children who are legally taken and raised by parents who are not their biological parents, forming a permanent family bond.

Temporary Foster Parents

Individuals or families who provide a temporary home and care for children when their biological parents are unable to do so.

Environmental Stimulation

Environmental stimulation involves the external inputs and interactions that encourage sensory, cognitive, and physical development, affecting learning and growth.

Institutional Setting

An environment organized around a specific social purpose or function, such as a school, hospital, or prison, where structured operations and procedures dictate interaction and behavior.