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

question 95

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:

Psychology

The systematic investigation of mental activities and behaviors.

Cognitive Approach

An approach to psychology emphasizing the mental processes involved in knowing: how we direct our attention, perceive, remember, think, and solve problems.

Behavioral Approach

A psychological perspective emphasizing the study of observable behaviors and the effects of learning on behavior.

Psychology

An exploration of the workings of the human mind and its capabilities, with a strong emphasis on how these affect actions in particular environments.