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
Related questions
Question
Can i get help with solving the attached?
Transcribed Image Text:How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank pays 5 percent per year.
Multiple Cholce
$2.491.03
$2,771.09
$2,38712
$2,693.78
Expert Solution
Step 1
In this we have to use future value formula to get the future value.
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Solved in 2 steps
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