Answered: What is the balance in an investment…

What is the balance in an investment account at the end of 5 years if $3,000 is deposited today and the account earns 4.00 % interest? O $3,781 O $3,929 O $3,650 O $3,933

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

What is the balance in an investment account at the end of 5 years if $3,000 is deposited today and
the account earns 4.00 % interest?
O $3,781
O
$3,929
O$ 3,650
O $3,933

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