Your Aunt Is Looking to Invest a Certain Amount Today

question 36

Multiple Choice

Your aunt is looking to invest a certain amount today. Which of the following choices will give the maximum interest?

• A) Three-year CD at 6.5% annual rate
• B) Three-year CD at 6.75% annual rate
• C) Three-year CD at 6.25% annual rate
• D) Three-year CD at 7% annual rate

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Definitions:

Arctic Ice

Frozen water in the Arctic region, including sea ice, glaciers, and permafrost, which plays a critical role in global climate systems.

Foot-in-the-door Phenomenon

The tendency for people to comply with a large request after first agreeing to a small, related request.

Decorative Pumpkins

Pumpkins used primarily for ornamental purposes, especially during autumn and Halloween, rather than for consumption.

Cognitive Dissonance

The mental discomfort experienced when holding two or more contradictory beliefs, attitudes, or values, which often leads to efforts to reduce the discomfort through changing attitudes or beliefs.