Nick Invested $2,000 in a Bank Savings Account Today and Another

question 33

Multiple Choice

Nick invested $2,000 in a bank savings account today and another $2000 a year from now. If the bank pays interest of 10 percent per year, how much money will Nick have at the end of two years?

• A) $4,210
• B) $4,200
• C) $4,000
• D) $4,620

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Definitions:

Society

A group of individuals living together in a more or less ordered community with shared laws, traditions, and values.

Equity

The idea that each person receives benefits in proportion to what he or she contributes.

Equality

The state or quality of being equal, especially in status, rights, and opportunities, advocating for fairness and non-discrimination.

Reciprocities

Mutual exchanges of privileges or interactions between parties where each party gives and receives something of value.