If Phil Has a $100,000 Bond with a 7% Interest

question 36

Multiple Choice

If Phil has a $100,000 bond with a 7% interest rate,compounded annually,how much will he have in 8 years?

• A) $163,452.83
• B) $170,978.42
• C) $149,867.49
• D) $171,818.62

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Definitions:

Domain-general Adaptation

A type of adaptation that occurs across various environments and tasks, indicating a broad level of adjustability and flexibility in behavior and cognition.

Learning

The process of acquiring new understanding, knowledge, behaviors, skills, values, attitudes, and preferences.

Naturalistic Fallacy

The logical error of inferring ethical conclusions directly from natural facts or stating that because something is natural, it is necessarily good or right.

Automatic Process

Mental activities that require minimal attention and cognitive resources, often occurring without conscious awareness.