Casey Has $1,000 to Invest and Would Like to Buy

question 56

Multiple Choice

Casey has $1,000 to invest and would like to buy a $3,000 jet-ski in four years.If interest is compounded annually,what interest rate will she have to receive to reach her goal?

• A) 300%
• B) 16%
• C) 32%
• D) 3%
• E) 7%

---

Definitions:

Method of Concomitant Variations

A scientific principle stating that if two variables vary together in a consistent manner, then one may be a cause of the other.

Suspected Cause

A factor that is believed or speculated to be the reason behind a certain condition or event, often investigated in causal research.

Initial Knowledge

The foundational information or understanding one has at the beginning of a learning process or inquiry.

Method

A systematic plan, procedure, or technique used to accomplish a specific task or solve a particular problem.