menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Personal Finance Study Set 10
  4. Exam
    Exam 4: Time Value of Money
  5. Question
    If You Put $1,000 into an Account Earning 5% Interest
Solved

If You Put $1,000 into an Account Earning 5% Interest

Question 20

Question 20

Multiple Choice

If you put $1,000 into an account earning 5% interest annually,how much will you have in five years?


A) $5,000.00
B) $1,276.28
C) $1,050.50
D) $1,500.00

Correct Answer:

verifed

Verified

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

Related Questions

Q15: You have a long-term goal of paying

Q16: A stream of equal payments that occurs

Q17: What is earning interest on interest?<br>A)Compounding<br>B)APR (annual

Q18: What is compounding?<br>A)Depositing money in the bank<br>B)When

Q19: What do you call a stream of

Q21: The time value of money is most

Q22: What is a lump sum?<br>A)A single,one-time payment<br>B)All

Q23: In which cities are coins for general

Q24: The _ frequently interest is compounded,the _

Q25: Which of the following is paper money

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines