You Currently Have $11,167 in Your Savings Account

question 61

Multiple Choice

You currently have $11,167 in your savings account.What interest rate do you need to earn in order to have $20,000 in the account in 10 years?

• A)6%
• B)8%
• C)10%
• D)There is not enough information to solve this question.

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Definitions:

Intellectual Achievement

Refers to significant accomplishments or contributions in the fields of knowledge, art, science, or technology, achieved through intellectual effort.

Superiority Complex

A psychological defense mechanism in which a person's feelings of superiority counter or conceal their feelings of inferiority.

Social Interest

A concept in psychology referring to an individual's inclination towards empathy, cooperation, and concern for the welfare of others.

First-Borns

A rephrased definition: The initial offspring in a family, often attributed with leadership qualities and higher responsibilities than their siblings.