You Wish to Deposit $7,000 in an Account at the Shylock

question 87

Multiple Choice

You wish to deposit $7,000 in an account at the Shylock Bank.The bank pays interest at a nominal annual rate of 10% compounded quarterly.What is the future value in the account after seven years?

• A) $13,975.47
• B) $13,641.02
• C) $13,336.23
• D) $14,726.68
• E) $14,055.44

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Definitions:

Social Disapproval

The negative evaluation of an individual or group by others, often leading to exclusion or rejection.

Self-Categorisation

The cognitive process in which individuals classify themselves as members of certain social groups or categories, influencing their behavior and self-perception.

Group Norm

An unwritten rule or standard of behavior shared by members of a group that guides conduct and expectations within the group.

Assimilation

The process by which a person or a group's language and/or culture come to resemble those of another group.