If $500 is placed in an account that earns a nominal 6 percent, compounded quarterly, what will it be worth in 10 years?   a. $907 b. $117.48 c. $1,045 d. $980 e. $1,020

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
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Question

If $500 is placed in an account that earns a nominal 6 percent, compounded quarterly, what will it be worth in 10 years?

 

a.

$907

b.

$117.48

c.

$1,045

d.

$980

e.

$1,020

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