You Deposit $100 Every Three Months for the Next 50

question 16

Multiple Choice

You deposit $100 every three months for the next 50 years,first deposit made today.If the interest rate is j₄ = 10%,how much do you have three months after your last deposit?

• A)$582,417
• B)$568,212
• C)$568,112
• D)$554,256

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Definitions:

Jean Piaget

A Swiss psychologist known for his pioneering work in child development, particularly his theory of cognitive development.

Cognitive Development

The study of how thinking, problem solving, and intelligence evolve as people grow from infancy through adulthood.

Piaget's Theory

A developmental theory by Jean Piaget that outlines how children's cognitive abilities progress through four stages from infancy to adolescence.

Abstract Reasoning

The ability to analyze information, detect patterns and relationships, and solve problems on a complex, abstract level.