A Deposit of $1,000 Earns the Following Interest Rates

question 10

Multiple Choice

A deposit of $1,000 earns the following interest rates?
8 percent in the first year,
7 percent in the second year, and
8 percent in the third year.
What would be the third year future value?

• A) $1,082.15
• B) $1,230.00
• C) $1,248.05
• D) $3,030.00

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Definitions:

Ductus Deferens

A tube in the male reproductive system that transports sperm from the epididymis to the ejaculatory ducts.

Scrotum

The pouch of skin containing the testicles and parts of the male reproductive system.

Ejaculatory Duct

A duct through which semen is ejaculated, connecting the vas deferens and seminal vesicles to the urethra.

Ductus Deferens

A tube that carries sperm from the epididymis to the ejaculatory ducts in the male reproductive system.