Question
$23,000 invested today in an account with 5% interest compounding yearly will grow to what amount in 6 years? Future Value of $1 4% 5%
$23,000 invested today in an account with 5% interest compounding yearly will grow to what amount in 6 years?
| Future Value of $1 |
|
|
|
|
|
|
|
| 4% | 5% | 6% | 7% | 8% | 9% |
| 4 | 1.170 | 1.216 | 1.262 | 1.311 | 1.360 | 1.412 |
| 5 | 1.217 | 1.276 | 1.338 | 1.403 | 1.469 | 1.539 |
| 6 | 1.265 | 1.340 | 1.419 | 1.501 | 1.587 | 1.677 |
| 7 | 1.316 | 1.407 | 1.504 | 1.606 | 1.714 | 1.828 |
| A. | $29,800 | |
| B. | $22,490 | |
| C. | $30,820 | |
| D. | $32,637 |
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The People Policies Audit
Authors: Maurice A. Phelps
1st Edition
1907766049, 978-1907766046
