Jeanne Has Just Graduated from High School and Has Received

question 52

Essay

Jeanne has just graduated from high school and has received an award for $5,000. She would like to deposit the money in an interest earning account until she graduates from college bank B pays 8 percent interest compounded semiannually. Which is the better offer, and how much will Jeanne have upon graduation from college?

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Definitions:

Inductive Approach

A reasoning process that involves making broad generalizations from specific observations.

Deductive Outline

A structured format for organizing information that starts with general statements or conclusions and proceeds to specific details or examples.

Closing Paragraph

The final section of a text that summarizes the main points discussed, restates the thesis in a new light, and provides closure to the narrative.

Forward-looking Idea

A concept or plan focused on future developments or innovations rather than current or past situations.