If You Put $2,000 in a Savings Account That Yields

question 97

Multiple Choice

If you put $2,000 in a savings account that yields 8% compounded semiannually,how much money will you have in the account in 20 years (round to nearest $10) ?

• A)$6,789
• B)$8,342
• C)$9,602
• D)$9,972

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Definitions:

Intentionality

The quality of being deliberate or purposive in one's actions or thoughts.

Schema

A cognitive framework or concept that helps organize and interpret information based on past experiences.

Sensorimotor Stage

The first of Piaget's stages of cognitive development where infants learn through interacting with the environment using their senses and motor activities.

Internalization of Schemes

The process through which children absorb and integrate external behaviors or cultural practices into their own cognitive frameworks during development.