Solved

If Gerry Makes a Deposit of $1,500 at the End

Question 27

Multiple Choice

If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?


A) $40,305
B) $30,000
C) $108,078
D) $161,220

Correct Answer:

verifed

Verified

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

Related Questions

Q22: How much must you invest today at

Q23: Mr. Fish wants to build a house

Q24: Mike Carlson will receive $12,000 a year

Q25: If a single amount were put on

Q26: The interest factor for the present value

Q28: The interest factor for the future value

Q29: Ian would like to save $2,000,000 by

Q30: The time value of money concept is

Q31: The formula PV = FV(1 + n)<sup>i</sup>

Q32: Babe Ruth Jr. has agreed to play