You Have $50,000 in Your Account

question 144

Multiple Choice

You have $50,000 in your account. Assuming no additional deposits are made and your account earns 8 percent per year, how long will it take for the account to have a balance of $500,000?

• A) 28.83 years
• B) 29.92 years
• C) 50.00 years
• D) 90.00 years

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Definitions:

Social Skills

Abilities used to communicate and interact effectively and harmoniously with others, including verbal and non-verbal communication, empathy, and active listening.

Intrinsic Motivation

The drive to engage in an activity for its own sake, enjoying the process and learning rather than for the sake of some external reward.

Social Loafing

The phenomenon where individuals exert less effort when working in groups than when working alone.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.