Multiple Choice
Sally would like to take an extra special trip in four years. She estimates she will need $10,000 for the trip. The best safe investment she can find currently pays 4% interest. How much must she invest today to have her $10,000 in four years? Round your answer to a while number.
A) $8,237
B) $8,548
C) $8,590
D) $11,841
Correct Answer:
Verified
Correct Answer:
Verified
Q51: Interest earned only on an investment's principal
Q52: For the same annual percentage rate, more
Q53: Which of the following equations is correct?<br>A)
Q54: Lee wishes to accumulate $1 million by
Q55: The effective annual rate (EAR) is the
Q57: You deposit $1,000 in a long-term certificate
Q58: The effective annual rate (EAR) is sometimes
Q59: Which of the following statements is false?<br>A)
Q60: The interest rate determined by multiplying the
Q61: Money has a time value so long