You Deposit $1,125 Today in a Savings Account That Pays

question 27

Multiple Choice

You deposit $1,125 today in a savings account that pays 6% interest,compounded annually.How much will your account be worth at the end of 25 years?

• A) $5,842.31
• B) $4,876.64
• C) $5,456.04
• D) $4,828.35
• E) $3,669.55

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another entity, leading to more efficient trade.

Radios

Devices used for the wireless transmission and reception of sound through electromagnetic waves.

Televisions

Electronic devices designed for the reception and display of audiovisual content through terrestrial, satellite, cable, or internet sources.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to specialized trade benefits.