Solved

Wendy and John Each Deposit $2,000 in a Bank Account

Question 16

Multiple Choice

Wendy and John each deposit $2,000 in a bank account at different rates of interest. Wendy receives interest on her deposit at an annual rate of 6 percent, while John receives interest at an annual rate of 9 percent.
-Refer to the scenario above. What will be the future value of Wendy's deposit after 1 year?


A) $2,110
B) $2,120
C) $2,360
D) $2,400

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions