Multiple Choice
The stated interest rate on your account is 3.5%,interest compounded monthly.If you deposit $100 each month,how much will you have in your account in 8 years? (Use time value tables or financial calculator.)
A) $9,600
B) $9,936
C) $11,060
D) $12,288
E) $12,350
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q71: Specialization within the financial institutions industry continues
Q72: You have $450 in your checking account
Q73: The least expensive method for banks to
Q75: Choose the word or phrase in [
Q77: Credit unions typically pay higher rates of
Q78: You put $1,000 into a 12-month certificate
Q79: Connie Shockey wants to put funds in
Q80: One could expect to earn a higher
Q81: Money market deposit accounts are insured by
Q91: Compound interest means that a savings account