An amount of $3000.00 is deposited in a bank paying an annual interest rate of 5 % compounded daily. Find the balance after 4 years.A$4,567.98B$3,664.16$3,540.27D$3,001.50None of these

Present value is the sum of money that is invested to achieve a specific future goal. Future value…

Answered: An amount of $3000.00 is deposited in a…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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klp.4
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An amount of $3000.00 is deposited in a bank paying an annual interest rate of 5 % compounded daily. Find the balance after 4 years. A $4,567.98 B $3,664.16 $3,540.27 D $3,001.50 None of these