Mark wants to invest $10,000. In a CD for at least 10 years.The first choice is a CD that pays 4% annually and uses simple interest. What is the totalvalue after 10 years?a) $14,000Ob) $6,000c) $10,000O d) $400

Simple Interest = P * R * TTotal Value = P + (P * R * T)Where P = PrincipalR = RateT = Time

Answered: Mark wants to invest $10,000. In a CD…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 14EB: How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one...

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Mark wants to invest $10,000. In a CD for at least 10 years. The first choice is a CD that pays 4% annually and uses simple interest. What is the total value after 10 years? O a) $14,000 Ob) $6,000 Oc) $10,000 Od) $400