Suppose $100 is deposited in a bank account paying 5% compounded annually. If the interest earned is X after five years, then the interest earned will be 2X after 10 years
Indicate whether the statement is true or false
False. Because of compounding, the balance on which interest is earned grows over time. Thus the interest earned in years six to 10 will exceed the interest earned in years 1 to 5.
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Explain the productivity curve and how the components interact
What will be an ideal response?
If discussing trade, it is ____ which matters, rather than ____. absolute advantage; comparative advantage
a. absolute advantage; comparative advantage b. comparative advantage; absolute advantage c. resource cost; comparative advantage d. the total amount of the good producible; comparative advantage
In an open economy, the quantity supplied of TVs in the domestic market will be ________.
A. 30,000 B. 60,000 C. 120,000 D. 90,000
Discuss the benefits of long-term economic growth. What are the factors that contribute to economic growth? Provide your perspective as to what our society can do to enhance economic growth.