Paul made an initial deposit of $5,000 into an account earning 3% annual interest compounded quarterly. After 1 year, the account's future value is closest to: Group of answer choices $5469 $5009.35 $5113.56 $5150
Paul made an initial deposit of $5,000 into an account earning 3% annual interest compounded quarterly. After 1 year, the account's future value is closest to: Group of answer choices $5469 $5009.35 $5113.56 $5150
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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Paul made an initial deposit of $5,000 into an account earning 3% annual interest compounded quarterly. After 1 year, the account's future value is closest to:
Group of answer choices
$5469
$5009.35
$5113.56
$5150
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