If You Want to Have $90 in Four Years, How

question 72

Multiple Choice

If you want to have $90 in four years, how much money must you put in a savings account today? Assume that the savings account pays 8.5% and it is compounded monthly (round to the nearest $1) .

• A) $64
• B) $65
• C) $66
• D) $71

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Definitions:

Hypotheses

Proposed explanations or predictions that can be tested through research and experimentation.

Methodology Section

A part of academic research or reports that outlines how the research was conducted, including the research design, tools, participants, procedures, and analysis techniques.

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together, without necessarily implying causation.

Scientific Goals

Objectives or aims of scientific research, which typically include description, explanation, prediction, and control of phenomena.