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    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 23: Understanding Time Value of Money Formulas and Concepts
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    Maxine Has $1,000 to Invest Today
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Maxine Has $1,000 to Invest Today

Question 75

Question 75

Multiple Choice

Maxine has $1,000 to invest today. How much will her money be worth in 15 years if she earns 9% compounded semiannually on her money?


A) $3,745
B) $13,268
C) $3,642
D) $1,935

Correct Answer:

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