(Spreadsheet problem) If you invest $900 in a bank where it will earn 9 percent compounded annually, how much will it be worth at the end of 5 years? At the end of 5 years, your bank account will be worth $. (Round to the nearest cent.) Which Excel formula below would correctly solve this problem? (Select the best choice below.) OA. =FV (9,5,0,-900) OB. =FV(0.09,5,0,-900) OC. =FV (9,0,5,-900) OD. =FV (0.09,-900,5,0)
(Spreadsheet problem) If you invest $900 in a bank where it will earn 9 percent compounded annually, how much will it be worth at the end of 5 years? At the end of 5 years, your bank account will be worth $. (Round to the nearest cent.) Which Excel formula below would correctly solve this problem? (Select the best choice below.) OA. =FV (9,5,0,-900) OB. =FV(0.09,5,0,-900) OC. =FV (9,0,5,-900) OD. =FV (0.09,-900,5,0)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:(Spreadsheet problem) If you invest $900 in a bank where it will earn 9 percent compounded annually, how much will it be worth at the end of 5 years?
At the end of 5 years, your bank account will be worth $. (Round to the nearest cent.)
Which Excel formula below would correctly solve this problem? (Select the best choice below.)
OA. =FV (9,5,0,-900)
OB. =FV(0.09,5,0,-900)
OC. =FV (9,0,5,-900)
OD. =FV (0.09,-900,5,0)
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