Question
Joseph Ray just received an inheritance of $35,775 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 4.75%
Joseph Ray just received an inheritance of $35,775 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 4.75% per year with quarterly compounding for 32 years, how much will he have accumulated? (Round off to the nearest dollar.)
a- $237,416
b- $71,550
c- $184,622
d- $162,113
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Ethics In Finance
Authors: John R. Boatright
3rd Edition
1118615824, 978-1118615829
