Margaret Plans to Deposit $500 on the First Day of Each

question 10

Multiple Choice

Margaret plans to deposit $500 on the first day of each of the next five years,beginning today.If she earns 4% compounded annually,how much will she have at the end of five years?

• A) $2,708.16
• B) $2,816.49
• C) $3,041.63
• D) $1,560.80
• E) $2,041.63

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Definitions:

Society Shapes

The concept that societal structures and cultural norms influence individual behaviors, perceptions, and social identities.

Psychic Energy

A concept in psychology representing the force behind human thoughts, emotions, and behaviors, often linked to Freudian psychoanalytic theory.

Biological Drives

Innate impulses that motivate behavior and are essential for survival, such as hunger, thirst, and the drive for reproduction.

Id

In psychoanalytic theory, the part of the mind in which innate instinctive impulses and primary processes are manifest.