Your Accountant Tells You That If You Can Continue to Earn

question 86

Multiple Choice

Your accountant tells you that if you can continue to earn the current interest rate on your balance of $500 for ten years,you will have about $983.58.If your accountant is correct,what is the current rate of interest?

• A)5 percent
• B)6 percent
• C)7 percent
• D)8 percent

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Definitions:

Amnesia

is a condition marked by the loss of memories, such as facts, information, and experiences, caused by brain injury, disease, or psychological trauma.

Sudden Travel

The act of quickly moving or being moved from one location to another without prior planning or preparation.

Magnification

In cognitive psychology, it refers to a distortion where an individual exaggerates the negatives or minimizes the positives of a situation.

Beck

Beck commonly refers to Aaron T. Beck, a psychiatrist known for developing cognitive therapy, a foundation for cognitive-behavioral therapy.