On the Day Harry Was Born,his Parents Put $1000 into an Investment

question 97

Multiple Choice

On the day Harry was born,his parents put $1000 into an investment account that promises to pay a fixed interest rate of 4 percent per year.How much money will Harry have in this account when he turns 18?

• A)$1,720
• B)$2,026
• C)$2,804
• D)$4,806

Recognize the significance of genetic variation in plants.

Identify adaptations in plants to their environment.

Describe the formation and function of plant meristems.

Understand the significance of seed banks and genetic preservation.

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Definitions:

Interest Rate

The percentage of a sum of money charged for its use, often expressed on an annual basis.

Payment

The transfer of money or goods from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Present Value

The contemporary valuation of future financial sums or sequences of cash flow, when factoring in a specific rate of return.

Interest Rate

The portion of a loan assessed as interest to the borrower, typically described as an annual rate of the loan's remaining balance.