Solved

Ishvar Patel Is Going to Make 5 Annual Deposits of $4,500

Question 5

Multiple Choice

Ishvar Patel is going to make 5 annual deposits of $4,500 each into a savings account beginning on July 1,2010.Assuming an interest rate of 6%,on July 1,2014,Ishvar's bank account will have a balance of:


A) $28,521.90
B) $30,608.55
C) $18,955.80
D) $25,366.92

Correct Answer:

verifed

Verified

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

Related Questions

Q1: You want to have $50,000 in a

Q2: Acme Company wants to have $1,200,000 twenty

Q3: The future value of an $11,600 investment

Q4: Calculate the expected rate of return for

Q6: Lisa Corsetti would like to have $50,000

Q7: When calculating the present or future value

Q8: Joe Bittner has just passed his CPA

Q9: Heather Whitestone wants to retire at the

Q10: The difference between the present and future

Q11: Alfred Bester wants to know how much