Justin Invests $4,000 in a Savings Account for Two Years

question 94

Multiple Choice

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually. How much interest income will Justin earn on this investment?

• A) $80.00
• B) $81.60
• C) $160.00
• D) $161.60

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Definitions:

Social Decentering

The cognitive ability to step outside one's own thoughts and feelings to consider the perspectives, thoughts, and feelings of others.

Causal Attribution

The process by which individuals explain the causes of behavior and events, attributing them to internal dispositions or external situations.

Enculturation

The process by which individuals learn the dynamics of their surrounding culture and acquire values and norms appropriate or necessary in that culture.

Platinum Rule

Guiding principle that encourages treating others the way they want to be treated, reflecting empathy and understanding of personal preferences.