Multiple Choice
When you turned 20,you deposited $1,500 into an account paying interest that is compounded quarterly.You just turned 30,and there is now $2,233.30 in the account.What nominal annual interest rate is the account paying?
A) 1.00%
B) 4.00%
C) 4.06%
D) 16.24%
E) 3.75%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q21: In its first year of operations,1980,the Gourmet
Q22: You deposited ($1,000)in a savings account that
Q23: Approximately how much must Tiffany invest today
Q24: Your current investment will mature in 2
Q25: $1,200 is deposited today into an account
Q27: If you presently have $6,000 invested at
Q28: Suppose you put $100 into a savings
Q29: Kayla hopes to purchase a new car
Q30: Your aunt dies and leaves you $1M
Q31: Julian was given a gold coin originally