If You Want to Have $875 in 32 Months, How

question 20

Multiple Choice

If you want to have $875 in 32 months, how much money must you put in a savings account today? Assume that the savings account pays 16% and it is compounded monthly (round to the nearest $10) .

• A) $630
• B) $570
• C) $650
• D) $660

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Definitions:

Drinking

The act of consuming liquids; in many contexts, it specifically refers to the consumption of alcoholic beverages.

Instrumental Aggression

Aggressive behavior aimed at achieving a specific goal or objective, rather than stemming from anger or frustration.

Reinforcement

A process in psychological and behavioral science where a behavior becomes more likely to occur due to the consequences that follow it.

Territorial Defense

Territorial defense is the behavior exhibited by animals, including humans, to protect their territory from intruders or rivals.