The Future Value of a Deposit in a Savings Account

question 26

Multiple Choice

The future value of a deposit in a savings account will be smaller

• A)the longer a person waits to withdraw the funds.
• B)the lower the interest rate is.
• C)the larger the initial deposit is.
• D)All of the above are correct.

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Definitions:

Circular Reasoning

A logical fallacy in which the conclusion is supported by premises that presuppose the conclusion, offering no actual evidence.

Premise

A statement or idea that is taken as the basis for reasoning or argument.

Conclusion

A logical end or outcome derived from reasoning or observation.

Higher IQ

Refers to superior intellectual capabilities, often measured by IQ tests, indicating above-average cognitive abilities.