2. A sum of $1,000 is deposited at time "0" at an interest rate of 52%, compounded quarterly. What is this money worth in five years? Choose your final answer from below while still showing your work. A. $1314 B. $1307 C. $1252 D. $1186

2. A sum of $1,000 is deposited at time "0" at an interest rate of 52%, compounded quarterly. What is this money worth in five years? Choose your final answer from below while still showing your work. A. $1314 B. $1307 C. $1252 D. $1186

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2. A sum of $1,000 is deposited at time "0" at an interest rate of 5½%,
compounded quarterly. What is this money worth in five years? Choose your
final answer from below while still showing your work.
A. $1314
B. $1307
C. $1252
D. $1186

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