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    Exam 5: The Time Value of Money
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    The Sum of $3,000 Is Deposited into an Account Paying
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The Sum of $3,000 Is Deposited into an Account Paying

Question 10

Question 10

Multiple Choice

The sum of $3,000 is deposited into an account paying 10% annually.If $1,206 is withdrawn at the end of years 1 and 2,how much then remains in the account?"


A) $1,326.97
B) $1,206.34
C) $1,097.40
D) $587.32

Correct Answer:

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