If you make quarterly deposits for 3 years (beginning one quarter from now) into an account that compounds interest at 1% per month, the value of n in the F∕A factor (for determining F at the end of the 3-year period) is: (a) 3 (b) 4 (c) 12 (d ) 16
If you make quarterly deposits for 3 years (beginning one quarter from now) into an account that compounds interest at 1% per month, the value of n in the F∕A factor (for determining F at the end of the 3-year period) is: (a) 3 (b) 4 (c) 12 (d ) 16
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If you make quarterly deposits for 3 years (beginning
one quarter from now) into an account that
compounds interest at 1% per month, the value of
n in the F∕A factor (for determining F at the end of
the 3-year period) is:
(a) 3 (b) 4 (c) 12 (d ) 16
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