If You Put $6,000 in a Savings Account That Yields

question 23

Multiple Choice

If you put $6,000 in a savings account that yields an 1% rate of interest compounded daily, what will the investment be worth at the end of one year?

• A) $6060.00
• B) $6,060.30
• C) $6,006.03
• D) $6,760.95

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Definitions:

Centralization

The concentration of decision-making authority at the upper levels of an organization, resulting in a narrower span of control.

Concentration of Authority

The centralization of decision-making power within a few positions or persons in an organization.

Organization Levels

The distinct layers of authority within an organization that define hierarchy and the division of roles and responsibilities.

Centralization

The concentration of decision-making authority at the top levels of the organizational hierarchy.