You Decide to Deposit $5,000 at a Local Bank for Three

question 16

Multiple Choice

You decide to deposit $5,000 at a local bank for three years at a 8% rate of interest compounded quarterly.The future value of your investment is most nearly equal to ________.

• A)$6,200
• B)$6,340
• C)$6,430
• D)$6,800

---

Definitions:

Average Amount

The sum of a set of numerical values divided by the count of values, typically used to find the central or typical value in a data set.

Sleep

A natural and periodic state of rest for the mind and body, characterized by altered consciousness and reduced sensory activity.

P-value

The P-value is a statistical metric that helps determine the significance of the results from a hypothesis test, measuring the probability of observing the test results under the null hypothesis.

Average Amount

The sum of a set of values divided by the number of values, often used to describe the central tendency of a data set.