If You Put $125 into an Account That Paid 3

question 196

Multiple Choice

If you put $125 into an account that paid 3.25 percent interest,then how much money would you have in the account after 20 years?

• A)$285.83
• B)$236.98
• C)$202.04
• D)$145.65

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Definitions:

Liability

A financial obligation or debt that an individual or company owes, which is required to be paid to creditors.

Manufacturing Firm

A company engaged in the transformation of raw materials, components, or parts into finished goods that meet a market's demand.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to consumers.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.