Sofia Plans to Save for Next Two Years

question 88

Multiple Choice

Sofia plans to save for next two years. She plans to put away $1000 every 6 months starting 6 months from now. What will be the value of her savings after two years if her savings accounts earns at a rate of 8% compounded semi-annually?

• A) $4000
• B) $4246.46
• C) $2080
• D) $6414.51
• E) $6632.98

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Definitions:

Public Trust

The belief and confidence that the public has in the integrity and effectiveness of governmental institutions and their actions.

Political Institutions

Structures and systems within a society that organize, govern, and manage public policy and affairs.

Social Institutions

Complex systems of norms and behaviors that fulfill societal needs, such as family, education, and religion.

Public Opinion Polling

The process of surveying public opinion from a particular sample in order to infer the opinions or behaviors of the general population.