Juan invested $2,000 at an annual interest rate of 4%, compounded monthly. After 3 years, the account's approximate future value is: Group of answer choices $2200 $2280 $2240 $2450
Juan invested $2,000 at an annual interest rate of 4%, compounded monthly. After 3 years, the account's approximate future value is: Group of answer choices $2200 $2280 $2240 $2450
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter17: Long-term Investment Analysis
Section: Chapter Questions
Problem 6E
Related questions
Question
Juan invested $2,000 at an annual interest rate of 4%, compounded monthly. After 3 years, the account's approximate future value is:
Group of answer choices
$2200
$2280
$2240
$2450
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