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

question 73

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 monthly.What is the future value in the account after seven years?

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

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Definitions:

Freud's Theory

A set of psychoanalytic concepts introduced by Sigmund Freud, focusing on unconscious motivations and childhood experiences.

Parent-Child Relationship

The dynamic and enduring bond between a parent and their children, characterized by a combination of affection, care, and guidance.

Operant Conditioning

A pedagogical strategy that tweaks the strength of a behavioural action via encouragement or disciplinary measures.

Classical Conditioning

A training technique involving the repeated coupling of two stimuli, where a reaction initially caused by the second stimulus is ultimately induced by only the first stimulus.