Say that the interest rate is 11% and you invest $200 today, and then another $220 exactly one year from today. What is the total future value of these investments two years from today? a. $490.62 b. $498.85 c. $511.15 d. $521.08

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Say that the interest rate is 11% and you invest $200
today, and then another $220 exactly one year from
today.
What is the total future value of these investments two
years from today?
a. $490.62
b. $498.85
c. $511.15
d. $521.08
Transcribed Image Text:Say that the interest rate is 11% and you invest $200 today, and then another $220 exactly one year from today. What is the total future value of these investments two years from today? a. $490.62 b. $498.85 c. $511.15 d. $521.08
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