You Decide to Deposit $2,000 at a Local Bank for Two

question 103

Multiple Choice

You decide to deposit $2,000 at a local bank for two years at a 7% rate of interest compounded annually.What is the future value of your investment?

• A)$2,014
• B)$2,028
• C)$2,280
• D)$2,290

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Definitions:

Transparency

The practice of openly and honestly disclosing information to stakeholders, promoting trust and accountability.

Contractual Agreements

Legally binding agreements between two or more parties that outline the terms, conditions, and obligations of each party.

Earned Income

Revenue generated from the sale of goods or services offered by a company or organization.

Donor Contributions

The act of giving resources voluntarily by individuals or organizations to support the activities or mission of another entity, often charitable.