Your Investment Account Pays Interest at a Rate of 8

question 67

Multiple Choice

Your investment account pays interest at a rate of 8% compounded semi-annually.If you deposit $1,000 today, how much will you have in two years?

• A)$1,081.60
• B)$1,166.40
• C)$1,169.86
• D)$1,360.49

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Definitions:

Function

A relationship between two sets that associates every element of the first set with exactly one element of the second set.

Vertical Line Test

A method used in determining if a graph represents a function, stating that if a vertical line intersects the graph more than once, then the graph is not a function.

Function

An interaction between a collection of inputs and a series of allowed outputs, where each input has a unique output association.