If $10,000 Is Deposited in an Account Paying 7% Compounded

question 17

Short Answer

If $10,000 is deposited in an account paying 7% compounded quarterly, then what amount will be in the account after 8 years?

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Definitions:

Matching Law

A principle stating that in a situation with multiple options for reinforcement, the proportion of responses directed toward an option matches the proportion of reinforcers obtained from that option.

Ratio Schedules

In operant conditioning, schedules that deliver reinforcement after a certain number of responses have been made, either fixed or variable.

Interval Schedules

A type of operant conditioning reinforcement schedule where the first response is rewarded only after a specified amount of time has elapsed.

FR 30 Schedule

A fixed-ratio schedule of reinforcement where a specific behavior is rewarded after it has been performed a fixed number of times, in this case, 30 times.