Question
You just deposited $8,000 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the
You just deposited $8,000 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now?
| a. | $20,232.41 | |
| b. | $23,789.75 | |
| c. | $19,565.40 | |
| d. | $26,457.76 | |
| e. | $22,233.41 |
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Marketplace Lending Financial Analysis And The Future Of Credit Integration Profitability And Risk Management
Authors: Ioannis Akkizidis, Manuel Stagars
1st Edition
1119099161, 978-1119099161
