Justin Invests $4,000 in a Savings Account for Two Years

question 94

Multiple Choice

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually. How much interest income will Justin earn on this investment?

• A) $80.00
• B) $81.60
• C) $160.00
• D) $161.60

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Definitions:

Pancreas

A gland situated behind the stomach that has both exocrine functions (digestive enzyme production) and endocrine functions (insulin and glucagon production).

Erythropoietin

A hormone produced primarily by the kidneys that regulates red blood cell production in response to oxygen levels in the body.

Mineralcorticoids

A class of corticosteroids, originating from the adrenal cortex, that regulate electrolyte and water balance.

Parathyroid Hormone

A hormone produced by the parathyroid glands responsible for regulating calcium levels in the blood.