If You Want to Have $875 in 32 Months, How

question 20

Multiple Choice

If you want to have $875 in 32 months, how much money must you put in a savings account today? Assume that the savings account pays 16% and it is compounded monthly (round to the nearest $10) .

• A) $630
• B) $570
• C) $650
• D) $660

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Definitions:

Hard Work

Exerting substantial effort or diligence in tasks or responsibilities to achieve success and desired outcomes.

Self-fulfilling Prophecy

A belief or expectation that influences behavior in a way that causes the belief to become true.

Motivational Theory

A concept or model that explains what motivates human behavior, often guiding strategies to increase motivation.

Maintenance Factors

In Herzberg's two-factor theory, aspects of the work environment that are necessary to prevent dissatisfaction but do not necessarily motivate employees.