You Deposit $3,000 into an N-Year Certificate of Deposit That

question 199

Multiple Choice

You deposit $3,000 into an N-year certificate of deposit that pays 4.5 percent annual interest,and at the end of the N years you have $4,082.59.What is the number of years,N?

• A)4
• B)5
• C)6
• D)7

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Definitions:

Ideal Free Distribution

A theory in ecology that predicts how animals distribute themselves among habitats to maximize their fitness, assuming individuals are free to choose and are perfectly informed.

Habitats

The natural environments or places where a particular species lives and grows; it is crucial for the survival of species.

Fitness

In evolutionary terms, the ability of an organism to survive and reproduce, thus passing on its genes to the next generation.

Passive Dispersal

A mechanism by which organisms or their propagules spread from one location to another without their own locomotion, often relying on external forces.