Determine how much $1,000 deposited in a savings account paying 8% (compounded annually) will be worth after 5 years. a. $1,469 b. $1,400 c. $5,526 d. $784
Determine how much $1,000 deposited in a savings account paying 8% (compounded annually) will be worth after 5 years. a. $1,469 b. $1,400 c. $5,526 d. $784
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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QUESTION 8
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Determine how much $1,000 deposited in a savings account paying 8% (compounded annually) will be worth after 5 years.
a. $1,469b. $1,400c. $5,526d. $784
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