If You Invest $1,000 at the End of Every Year

question 110

Multiple Choice

If you invest $1,000 at the end of every year for five years at an interest rate of 10%,the balance of your investment in 5 years will be closest to:

• A)$1,611.
• B)$3,791.
• C)$5,000.
• D)$6,105.

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Definitions:

Crystallized Intelligence

Aspects of intelligence involving verbal ability and accumulated knowledge, which tend to increase over the life span.

Fluid Intelligence

Aspects of intelligence involving abstract reasoning and mental flexibility, which peak in the early 20s and decline slowly as people age.

Cognitive Dissonance

A psychological phenomenon where a person experiences discomfort or distress due to holding conflicting beliefs, attitudes, or behaviors simultaneously.

Successful Aging

Maintaining one’s physical health, mental abilities, social competence, and overall satisfaction with life as one gets older.