Jamie Deposits $1000 into an Account Paying 6 Per Cent

question 22

Multiple Choice

Jamie deposits $1000 into an account paying 6 per cent interest,compounded annually.
At the same time,Amy deposits $1000 into an account paying 3 per cent interest,compounded annually.Over a five-year period:

• A)both Jamie and Amy will earn the same amount of interest
• B)Jamie will earn exactly twice the amount of interest that Amy earns
• C)Amy will earn exactly twice the amount of interest that Jamie earns
• D)Jamie will earn somewhere between one and two times the amount of interest that Amy earns
• E)Jamie will earn more than twice the amount of interest that Amy earns

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Definitions:

High-exchange Relationships

Collaborative partnerships or interactions characterized by mutual benefits, trust, and frequent exchanges of resources or information.

Obligations

Duties or commitments that one is bound to carry out or fulfill.

Constraints

Limitations or restrictions that impact or regulate actions, processes, or developments.

Incompatible Biases

Prejudices or preconceived opinions that conflict with each other or with current situations.