A High-Yield Savings Pays 20% Interest, Compounded Continuously

question 53

Multiple Choice

A high-yield savings pays 20% interest, compounded continuously. How long would it take an initial investment of $2500 to grow to $20,000?

• A) 1.04 years
• B) 103.972 years
• C) 10.397 years
• D) 14.979 years
• E) none of these

Recognize the principles and experiments of Solomon Asch related to conformity and social pressures.

Distinguish between obedience, conformity, compliance, and groupthink, and understand their implications in social contexts.

Identify factors that influence the rate of conformity, including group size, task difficulty, and presence of dissent.

Explain the psychological mechanisms behind groupthink, its occurrence, and its impact on decision-making.