At What Rate Must $400 Be Compounded Annually for It

question 33

Multiple Choice

At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years?

• A) 6%
• B) 5%
• C) 7%
• D) 8%

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Definitions:

Encoding

The process by which information is transformed into a form that can be stored in memory.

Triarchic

Governed by three. Descriptive of Sternberg’s view that intellectual functioning has three aspects: analytical intelligence, creative intelligence, and practical intelligence.

Encoding

In psychology, the process of converting information into a form that can be stored in memory, initiating the process of creating a new memory.

Selective Attention

The cognitive process of focusing on a particular object or task, while ignoring irrelevant information.