$10,000 Is Put in a Investment Account Today

question 110

Multiple Choice

$10,000 is put in a investment account today.The investment account compounds interest at a rate of 1% per month.What amount will be available five years from today?

• A)$10,510
• B)$16,000
• C)$17,623
• D)$18,167

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Definitions:

Nonvolatile

Refers to a type of computer memory that retains its stored information even after power is turned off, like SSDs and flash drives.

Solid-State

Refers to electronic devices that use solid-state electronics, such as semiconductors, for storage or operation, contrasted with mechanical devices.

Flash

In technology, this often refers to a storage medium known for its fast access speeds and durability, commonly used in USB drives and solid-state drives.

Wireless Communication

The transfer of information or power between two or more points that are not connected by an electrical conductor, using electromagnetic waves.