You Just Deposited $8,000 in a Bank Account That Pays

question 51

Multiple Choice

You just deposited $8,000 in a bank account that pays a 4.0% nominal interest rate,compounded quarterly.If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now,how much will be in the account three years (12 quarters) from now?

• A) $22,233.41
• B) $23,789.75
• C) $19,565.40
• D) $26,457.76
• E) $20,232.41

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Definitions:

Warmth

A quality of being pleasantly friendly, genial, or showing kind regard to others.

Competence

The ability to do something successfully or efficiently, often related to specific skills or knowledge.

Hostile Sexism

Negative attitudes and stereotypes about women that are openly antagonistic or derogatory.

Paid Less

Receiving lower compensation for work performed compared to others, often highlighted in discussions of wage disparities.