Justin Invests $4,000 in a Savings Account for Two Years

question 94

Multiple Choice

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually. How much interest income will Justin earn on this investment?

• A) $80.00
• B) $81.60
• C) $160.00
• D) $161.60

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Definitions:

Disenfranchise

The revocation of the right to vote or other rights of citizenship, often affecting specific populations or groups.

Convicted of Felonies

Refers to individuals who have been found guilty by a court of law for committing crimes considered severe.

Poll Taxes

A tax levied on an individual as a prerequisite for the right to vote, historically used to prevent African American voters from exercising their voting rights.

Social Institutions

Established systems of social order that structure society, such as family, education, religion, and the economy.