$200 Is Invested in an Account Paying 7 $\approx$ $35154
B) $\approx$

question 74

Multiple Choice

$200 is invested in an account paying 7.5% compounded annually. How much will the account be worth after 8 years? [Round to the nearest cent. Use the compound interest formula .]

• A) \(\approx\) $351.54
• B) \(\approx\) $353.38
• C) \(\approx\) $356.70
• D) \(\approx\) $361.98

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Definitions:

Globalization

The method of engaging and assimilating among individuals, corporations, and national governments globally, frequently propelled by global commerce and investment, with support from information technology.

Recession

A significant decline in economic activity spread across the economy that lasts more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Inflation

A general increase in prices and fall in the purchasing value of money, affecting economic conditions.

Values

Core beliefs or standards that guide and motivate attitudes and actions in individuals and organizations.