4. Beatrice invests $1,888 in an account that pays 6% simple interest. How much more could she have earned over a seven-year period if the interest had compounded annually? A. $163.45 B. $157.89 C. $149.65 D. $137.56

4. Beatrice invests $1,888 in an account that pays 6% simple interest. How much more could she have earned over a seven-year period if the interest had compounded annually? A. $163.45 B. $157.89 C. $149.65 D. $137.56

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 10PROB

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4. Beatrice invests $1,888 in an account that pays 6% simple interest. How much more could she
have earned over a seven-year period if the interest had compounded annually?
A. $163.45
B. $157.89
C. $149.65
D. $137.56

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