If you invest $8,000 at the end of every year for nine years at an interest rate of 8%, the balance of your investment in 3 years will be closest to Future Value of $1 Periods 3 5 5% 1.150 1216 1276 1.340 Future Value of Annuity of $1 Periods 5% 3 A. $25,968 OB. $10,080 OC. $24,000 OD. $20,616 3.153 4.310 6% 1.191 1.262 1.338 1.410 6% 3.184 4.375 8% 1.200 1.300 1.400 1.587 8% 3.246 4506 10% 1.331 1.464 1611 1.772 10% 3.310 4.641
If you invest $8,000 at the end of every year for nine years at an interest rate of 8%, the balance of your investment in 3 years will be closest to Future Value of $1 Periods 3 5 5% 1.150 1216 1276 1.340 Future Value of Annuity of $1 Periods 5% 3 A. $25,968 OB. $10,080 OC. $24,000 OD. $20,616 3.153 4.310 6% 1.191 1.262 1.338 1.410 6% 3.184 4.375 8% 1.200 1.300 1.400 1.587 8% 3.246 4506 10% 1.331 1.464 1611 1.772 10% 3.310 4.641
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![If you invest $8,000 at the end of every year for nine years at an interest rate of 8%, the balance of your investment in 3 years will be closest to
Future Value of $1
Periods
3
4
5
5%
1.150
1216
1276
1.340
Future Value of Annuity of $1
Periods
5%
3
3.153
4
4.310
A. $25,968
OB. $10,080
OC. $24,000
OD. $20,616
6%
1.191
1.262
1.338
1.410
6%
3 184
4.375
8%
1.200
1.360
1.400
1.587
8%
3.246
4.506
10%
1.331
1.464
1611
1.772
10%
3.310
4.641](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5e3ed6ff-1d99-4960-9924-91b920dd6d97%2F5c79190e-7fdd-4ab9-af41-eba78e101980%2Fz5vywzd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If you invest $8,000 at the end of every year for nine years at an interest rate of 8%, the balance of your investment in 3 years will be closest to
Future Value of $1
Periods
3
4
5
5%
1.150
1216
1276
1.340
Future Value of Annuity of $1
Periods
5%
3
3.153
4
4.310
A. $25,968
OB. $10,080
OC. $24,000
OD. $20,616
6%
1.191
1.262
1.338
1.410
6%
3 184
4.375
8%
1.200
1.360
1.400
1.587
8%
3.246
4.506
10%
1.331
1.464
1611
1.772
10%
3.310
4.641
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