You Deposit $10,000 in an Account That Doubles in "6

question 78

Multiple Choice

You deposit $10,000 in an account that doubles in "6" years. How many years will it take the account to be reduced to its original value if it loses 10 percent per year?

• A) 6.00 years
• B) 6.58 years
• C) 7.27 years
• D) 10.00 years

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Definitions:

Exemplars

Specific instances or examples within a category that are used in cognitive psychology to theorize how people categorize items and ideas.

Prototype View

The prototype view is a theory in cognitive science suggesting that people categorize objects and ideas based on a mental image or "prototype" that represents the most typical example of a category.

Prototype

An abstract representation of an idealized member of a class of objects or events.

Exemplar

A specific instance, example, or case that is representative of a concept, category, or phenomenon.