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

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The total number of people living in the United States, a figure that is determined through census data.

Price Elasticity

A metric revealing how demand for a good varies in response to price changes.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.

Medically Uninsured

Individuals who do not have health insurance coverage, making them potentially financially vulnerable to high medical costs.