A Deposit of $1000 Is Made in an Account That

question 66

Multiple Choice

A deposit of $1000 is made in an account that earns 4% interest compounded monthly.The balance in the account after n months is given by Find the balance in the account after 12 years by finding the 144th term of the sequence.Round to the nearest penny.

• A) $283,661.80
• B) $1614.78
• C) $1609.42
• D) $144,480.00
• E) $1620.17

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Federal Courts

Courts established by the federal government of a country that have jurisdiction over constitutional, statutory, and other legal matters.

Social Regulations

Rules imposed by government to regulate the impact of business activities on public health, safety, the environment, and social welfare.

Rational Basis Review

A legal standard used by courts to evaluate the constitutionality of a statute or ordinance, where the government only needs to show that the law is rationally related to a legitimate government interest.

Equal Protection

The constitutional guarantee that no person or group will be denied the same protection of the laws that is enjoyed by other similarly situated individuals.