If You Invest $2,000 at the End of Each Year

question 49

Multiple Choice

If you invest $2,000 at the end of each year for five years and you earn 7% interest compounded annually, how much will you have accumulated at the end of the fifth year?

• A)$10,700
• B)$11,501
• C)$12,307
• D)$14,026

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Definitions:

Peekaboo

A game played with babies that involves hiding and suddenly reappearing, intended to entertain and develop the child's understanding of object permanence.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed, a concept developed during infancy.

Love

A complex set of emotions and attitudes associated with strong feelings of affection, warmth, and respect for another person.

Gender Development

The process by which individuals develop their gender identity, often influenced by biological, social, and cultural factors.