Compare the future worth of $2,500 for 5 years at 12% per year compounded monthly. How much interest is paid? a. F = $3,533 Ob. F = $3,633 c. F = $4,633 Od. F = $4,541
Compare the future worth of $2,500 for 5 years at 12% per year compounded monthly. How much interest is paid? a. F = $3,533 Ob. F = $3,633 c. F = $4,633 Od. F = $4,541
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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Transcribed Image Text:Compare the future worth of $2,500 for 5 years at 12% per year compounded monthly. How much interest is paid?
a. F = $3,533
Ob. F = $3,633
c. F = $4,633
Od. F = $4,541
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