You Put $100 in a Bank for a Fixed Two

question 34

Multiple Choice

You put $100 in a bank for a fixed two year term.The interest rate on the loan is 8% per annum,compounded semi-annually.Because the term is fixed,you are not allowed to withdraw interest at any point.What is the total amount of interest earned in the final half-year of the term?

• A) $4.00
• B) $4.50
• C) $4.67
• D) $4.16
• E) $4.33

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Definitions:

Sign Stimulus

A specific external sensory cue that triggers a fixed action pattern in an animal.

Operant Conditioner

A method of learning that occurs through rewards and punishments for behavior.

Reproductive Success

The ability of an organism to produce offspring that survive and reproduce, thus passing genes to the next generation.

Viable Offspring

Offspring that are capable of survival and reproduction, contributing to the genetic continuity of a species.