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Testbank Multiple Choice Question 65 Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually
Testbank Multiple Choice Question 65
Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%.
What amount should be deposited in a bank account today to grow to $28000 three years from today?
Periods | Future Value of 1 at 12% | |
1 | 1.120 | |
2 | 1.254 | |
3 | 1.405 | |
4 | 1.574 | |
5 | 1.762 |
| $28000 1.405 |
| $28000 1.405 |
| $28000 1.405 3 |
| $28000 1.120 3 |
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Managerial Accounting
Authors: Charles E. Davis, Elizabeth Davis
2nd edition
1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445
