Multiple Choice
are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly.If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $150,000?
A) 39.60
B) 44.00
C) 48.40
D) 53.24
E) 58.57
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q18: Chuck has $2,500 invested in a bank
Q34: is the PV of an ordinary annuity
Q36: now has $500.How much would he have
Q37: U)S.Treasury bond will pay a lump sum
Q40: deposit $500 today in a savings account
Q41: is the PV of an ordinary annuity
Q43: uncle is about to retire, and he
Q78: Which of the following statements regarding a
Q119: Disregarding risk, if money has time value,
Q129: Suppose the U.S.Treasury offers to sell you