Suppose You Put $350 into a Bank Account Today

question 163

Multiple Choice

Suppose you put $350 into a bank account today.Interest is paid annually and the annual interest rate is 6 percent.The future value of the $350 after 4 years is

• A)$414.09.
• B)$434.00.
• C)$441.87.
• D)$481.24.

---

Definitions:

Prices of Inputs

The costs associated with the materials, labor, and other resources necessary for the production of goods or services.

Produce

To manufacture, grow, or create goods and services for consumption or sale.

Transport

The movement of goods or people from one location to another using various modes such as road, rail, air, or sea.

Supply Curve

An illustration that depicts the connection between the cost of a commodity and the amount of the commodity that producers are prepared to offer.