Compounding with Different Interest Rates a Deposit of $700 Earns

question 2

Multiple Choice

Compounding with Different Interest Rates A deposit of $700 earns interest rates of 10 percent in the first year and 7 percent in the second year.What would be the second year future value?

• A)$771.07
• B)$819.00
• C)$823.90
• D)$1519.00

---

Definitions:

Declarative Memories

Recollections accessible to our conscious mind, comprising knowledge and events.

Semantic Memory

Semantic memory refers to a portion of long-term memory that processes ideas and concepts that are not drawn from personal experience, such as facts, meanings of words, and general knowledge of the world.

Declarative Memories

Recollections that are accessible to conscious awareness, including information and occurrences.

Nondeclarative Memories

A category of long-term memory that includes skills, tasks, and actions one can perform without consciously thinking about them, such as riding a bicycle.