If you invest $5,000 at an annual interest rate of 6% compounded annually, what will be the value of your investment after 5 years? a) $6,691.13 b) $6,500.00 c) $7,012.85 d) $6,802.44

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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If you invest $5,000 at an annual interest
rate of 6% compounded annually, what
will be the value of your investment
after 5 years?
a) $6,691.13
b) $6,500.00
c) $7,012.85
d) $6,802.44
Transcribed Image Text:If you invest $5,000 at an annual interest rate of 6% compounded annually, what will be the value of your investment after 5 years? a) $6,691.13 b) $6,500.00 c) $7,012.85 d) $6,802.44
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