Joe Notsosmart Invested $10,000 at 8% Simple Interest for 5

question 16

Multiple Choice

Joe Notsosmart invested $10,000 at 8% simple interest for 5 years.How much more would he have received if he had received compound interest annually at the same rate?

• A)$4,000.
• B)$4,693.
• C)$693.
• D)$400.

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Definitions:

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A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer.

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A legal principle that holds property owners and occupiers liable for injuries that occur on their property, under certain conditions.

Business Trip

A journey taken for work or professional reasons, often involving travel outside the usual workplace.

Performing Job

The act of carrying out the duties, tasks, and responsibilities associated with a specific role or employment.