You Decide to Deposit $3,000 at a Local Bank for Three

question 21

Multiple Choice

You decide to deposit $3,000 at a local bank for three years at a 6% rate of interest compounded semiannually.The future value of your investment is most nearly equal to ________.

• A)$3,270
• B)$3,540
• C)$3,580
• D)$3,618

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Definitions:

Income Inequality

The uneven distribution of income within a population, leading to a gap between the wealthy and the poor.

American Mothers

Women living in the United States who have children, characterized by their parenting practices within the context of American culture.

Two-person Single Career

a relationship dynamic where one partner’s career is prioritized, and the other partner supports this, often sacrificing their own career advancements.

Nonworking Spouse

A spouse who does not participate in the formal workforce, often focusing on domestic duties or childcare instead.