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
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
Problem 1PS
Related questions
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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