You Plan to Invest $2,000 at the End of Each

question 26

Multiple Choice

You plan to invest $2,000 at the end of each of the next 25 years. If the investment earns 7% annually, what is the investment worth at the end of 25 years?

• A)$132,748.33
• B)$23,307.17
• C)10,854.87
• D)$126,498.08

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Definitions:

Intimacy

The closeness between individuals in personal relationships, characterized by mutual affection, emotional connection, and trust.

Cognitive-Dissonance Theory

The view that we are motivated to make our cognitions or beliefs consistent with each other and with our behavior.

Effort Justification

In cognitive-dissonance theory, the tendency to seek justification (acceptable reasons) for strenuous efforts.

Self-Serving Bias

The tendency to view one’s successes as stemming from internal factors and one’s failures as stemming from external factors.