If $600 Is Invested At $4 \%$ Interest, Compounded Annually, Then After N Years the Investment Is

question 59

Multiple Choice

If $600 is invested at $4 \%$ interest, compounded annually, then after n years the investment is worth $a _ { n } = 600 ( 1.04 ) ^ { n }$ dollars. Find the size of investment after 7 years.

• A) $430.21
• B) $1,860.81
• C) $1,230.81
• D) $789.56
• E) $1,321.06

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Definitions:

Political Process

The mechanisms, activities, and institutions through which citizens and groups use power to influence government and policy.

Logrolling

A practice in politics whereby individuals or groups exchange support or favors, especially in legislative contexts.

Subsidizing

The act of providing financial support, typically by the government, to reduce the cost of producing goods or services, making them more affordable to the public.

Economically Inefficient

refers to a scenario where resources are not optimally utilized, leading to waste or missed opportunities for better outcomes.