If you invest $2,000 per year for 9 years and earn a 5% return on your investment during that period, how much will you have accumulated by the end of the nine-year period? (a) $2,000 (b) $11,970 (c) $18,000 (d) $22,054 (e) $30,000

If you invest $2,000 per year for 9 years and earn a 5% return on your investment during that period, how much will you have accumulated by the end of the nine-year period? (a) $2,000 (b) $11,970 (c) $18,000 (d) $22,054 (e) $30,000

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

If you invest $2,000 per year for 9 years and earn
a 5% return on your investment during that period,
how much will you have accumulated by the end
of the nine-year period?
(a) $2,000
(b) $11,970
(c) $18,000
(d) $22,054
(e) $30,000

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