Suppose You Put $500 into a Bank Account Today

question 182

Multiple Choice

Suppose you put $500 into a bank account today.Interest is paid annually and the annual interest rate is 3%.The future value of the $500 in 5 years to the nearest cent is

• A)$575.00
• B)$578.81
• C)$579.64
• D)None of the above is correct.

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Definitions:

Theory X

A management theory assuming that employees are inherently lazy and will avoid work if they can, implying that a strict control and supervision are necessary.

Type A Personality

A temperament characterized by high levels of competitiveness, self-motivation, aggressiveness, impatience, and a sense of urgency, often linked to stress and achievement in careers.

Competitive Advantage

The attribute that allows an organization to outperform its competitors, leading to greater sales or margins and/or retaining more customers.

Union Avoidance

Strategies employed by employers to prevent the formation of unions and avoid collective bargaining, often focusing on employee satisfaction.