If Billy Pierce Invests $1,000 at the End of EachA) 4% B) 5% C) 6% D) 7

The Answer of If Billy Pierce Invests $1,000 at the End of EachA) 4% B) 5% C) 6% D) 7

If Billy Pierce Invests $1,000 at the End of EachA) 4% B) 5% C) 6% D) 7

The Answer of If Billy Pierce Invests $1,000 at the End of EachA) 4% B) 5% C) 6% D) 7

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If Billy Pierce Invests $1,000 at the End of Each

question 39

Multiple Choice

If Billy Pierce invests $1,000 at the end of each year for 8 years, and he wants it to grow to at least $10,000, what interest rate would be needed?
$\begin{array}{|r|r|r|r|r|r|r|}\hline\text { Future } \\\text { Value of an} \\\text { Annuity of }\\\$ 1\\\hline & 4 \% & 5 \% & 6 \% & 7 \% & 8 \% & 9 \% \\\hline 1 & 1.000 & 1.000 & 1.000 & 1.000 & 1.000 & 1.000 \\\hline 2 & 2.040 & 2.050 & 2.060 & 2.070 & 2.080 & 2.090 \\ \hline 3 & 3.122 & 3.153 & 3.184 & 3.215 & 3.246 & 3.278 \\\hline 4 & 4.246 & 4.310 & 4.379 & 4.440 & 4.506 & 4.573 \\\hline 5 & 5.416 & 5.526 & 5.637 & 5.751 & 5.867 & 5.985 \\\hline 6 & 6.631 & 6.802 & 6.976 & 7.153 & 7.336 & 7.523 \\\hline 7 & 7.898 & 8.142 & 8.394 & 8.654 & 8.929 & 9.200 \\\hline 8 & 9.214 & 9.549 & 9.897 & 10.26 & 10.64 & 11.03 \\\hline 9 & 10.58 & 11.03 & 11.49 & 11.98 & 12.49 & 13.02 \\\hline 10 & 12.01 & 12.58 & 13.18 & 13.82 & 14.49 & 15.19 \\\hline\end{array}$

Definitions:

Extrinsic Motivation

The drive to perform or engage in an activity due to external rewards or pressures, rather than for intrinsic enjoyment or satisfaction.

Intrinsic Motivation

is the internal drive to perform an activity for its own sake, deriving pleasure and satisfaction from the activity itself rather than external rewards.

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, or praise, rather than for the inherent enjoyment of the activity itself.

Emotional Regulation

The skill of handling and reacting to feelings in a constructive and beneficial way.