You Receive $2,000 Today Which You Plan to Save for 15

question 123

Multiple Choice

You receive $2,000 today which you plan to save for 15 years.If the interest rate is 4 percent,what is the future value of this $2,000?

• A)$3,494.40
• B)$3,585.85
• C)$3,601.89
• D)$3,676.14

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Definitions:

Animated Conversation

A lively and spirited discussion, characterized by enthusiasm and active participation.

Unconscious Mental Activity

Psychological processes that occur without an individual's conscious awareness, influencing thoughts, feelings, and behaviors.

Simultaneous Processing

The cognitive ability to process multiple pieces of information at the same time.

Parallel Tracks

Situations or processes that occur simultaneously or side-by-side with little to no intersection or effect on each other.