Consider a Certificate of Deposit That Pays 14% (Annual Percentage

question 24

Multiple Choice

Consider a certificate of deposit that pays 14% (annual percentage rate) on an initial deposit of $3,000.The balance after 14 years is Estimate ,where x is the length of the compounding period (in years) .Round your answer to the nearest hundredth. ​​

• A) ​21,297.98
• B) ​1,103.64
• C) ​42,000
• D) ​3,420
• E) ​3,000

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Definitions:

Social Cognition

The ability to understand that others have mental states and to gauge their feelings and actions.

Sensory Memory

Initial, brief, temporary storage of sensory information.

Long-Term

Referring to an extended period of time, often implying lasting significance or effect.

Executive

A senior-level manager or administrator, typically within an organization, who makes important decisions and oversees operations.