Question
You are offered an investment opportunity which pays an annual interest rate of 2.6% for the next five years. Your initial deposit is $3,000. Assumes
You are offered an investment opportunity which pays an annual interest rate of 2.6% for the next five years. Your initial deposit is $3,000. Assumes interest is compounded quarterly. How much will you have at the end of five years?
| a. | $3,415.05 | |
| b. | $3,807.21 | |
| c. | $3,410.81 | |
| d. | $3,502.32 | |
| e. | $3,098.78 |
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Financial Markets And Institutions
Authors: Jeff Madura
8th Edition
0324568215, 978-0324568219
