Question
Suppose you invest $3,900 today in an account that earns a nominal annual rate (i nom ) of 16 percent, with interest compounded quarterly .
Suppose you invest $3,900 today in an account that earns a nominal annual rate (i nom) of 16 percent, with interest compounded quarterly. How much money will you have after 10 years?
| a. | $1,477,012.52 | |
| b. | $18,723.98 | |
| c. | $17,204.60 | |
| d. | $5,772.95 | |
| e. | $45,240.00 |
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
4th International Edition
0132912813, 9780132912815
