Question
Raffy deposited $5000 in an investment account for 3 months. The account paid simple interest at a rate of 2.4 percent. What is the future
Raffy deposited $5000 in an investment account for 3 months. The account paid simple interest at a rate of 2.4 percent. What is the future value of his investment?
A. $5235.75
B. $5120.00
C. $5030.00
D. $5360.00
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
7th Edition
013213683X, 978-0132136839
