If You Put $700 in a Savings Account with a 10

question 6

Multiple Choice

If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth in 21 months (round to the nearest dollar) ?

• A) $827
• B) $833
• C) $828
• D) $1,176

---

Definitions:

Inaccurate

Lacking correctness or precision; not accurate.

Posthypnotic Suggestions

Instructions given to a person under hypnosis that are meant to be acted upon after the person has awakened from the hypnotic state.

Smoking

The act of inhaling and exhaling the smoke of burning tobacco in cigars, cigarettes, or pipes.

Placebo

A harmless pill, medicine, or procedure prescribed more for the psychological benefit to the patient than for any physiological effect.