You Have Been Asked to Compute the Amount of a Fund

question 159

Multiple Choice

You have been asked to compute the amount of a fund that will be available at the end of three years as a result of a single sum of $1,000 that is deposited.What is the interest concept that best describes this application?

• A)Present value of a single amount.
• B)Present value of an annuity.
• C)Future value of a single amount.
• D)Future value of annuity.

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Definitions:

Behavior Modification

Techniques and principles based on behaviorism used to change or improve undesirable behaviors through reinforcement and consequences.

Electric Shock Therapy

A medical treatment, more commonly known as Electroconvulsive Therapy (ECT), which involves inducing seizures in patients under general anesthesia to treat certain mental disorders.

SSRIs

Selective Serotonin Reuptake Inhibitors, a class of medications typically used to treat depression and anxiety disorders by increasing serotonin levels in the brain.

Echolalia

The automatic repetition of sounds or words.