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Sue now has $490. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? Answer a. $1,148.14
Sue now has $490. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding?
Answer
| a. | $1,148.14 | |
| b. | $837.58 | |
| c. | $941.10 | |
| d. | $1,157.55 | |
| e. | $724.64 |
1 points
Question 10
- Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 4.0% interest, compounded annually. How much will you have when the CD matures?Answer
a. $3,019.70b. $3,641.40c. $2,634.83d. $2,960.49e. $2,516.42
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Accounting The Easy Way
Authors: Peter J. Eisen
3rd Edition
0812094093, 9780812094091
