You Are Tearing Down a Building and Find $1 in Change

question 147

Multiple Choice

You are tearing down a building and find $1 in change that someone lost when working on the building 140 years ago. If, instead of being careless with the $1 in change, this person had deposited it into a bank and earned 2 percent interest every year for 140 years, how much would be in the account today according to the rule of 70?

• A)$4
• B)$8
• C)$16
• D)$32

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Definitions:

Preindustrial

pertains to the period or society before the widespread adoption of industrialization, characterized by agrarian economies and limited technological advancement.

Uncontrollable Disease

A disease that cannot be effectively managed or restrained through medical intervention or lifestyle changes.

Replacement Level

The replacement level is the number of children that each woman must have on average for population size to remain stable. Ignoring any inflow of population from other countries and any outflow to other countries, the replacement level is 2.1.

Total Fertility Rate

The average number of children born to a woman over her lifetime within a population.