Future Value: Carlos Lopes Is Looking to Invest for the Next

question 20

Multiple Choice

Future value: Carlos Lopes is looking to invest for the next three years. He is looking to invest $7,500 today in a bank term deposit that will earn interest at 5.75 percent annually. How much will he have at the end of three years? (Round to the nearest dollar.)

• A) $8,870
• B) $9,225
• C) $8,681
• D) $8,794

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Definitions:

Conflict Theory

A social theory that views societal structures as a result of conflicts between different groups or classes.

Family

A group consisting of parents and children living together in a household, or a similar close-knit group with strong emotional ties.

Kinship Systems

The patterns of relationships and social structures that define family, descent, and inheritance, varying widely across cultures.

Sociology

The study of human society, social behaviors, and structures, including social relationships, institutions, and patterns of social change.