menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Intermediate Accounting Study Set 4
  4. Exam
    Exam 7: Accounting and the Time Value of Money
  5. Question
    You Decide to Deposit $2,000 at a Local Bank for Two
Solved

You Decide to Deposit $2,000 at a Local Bank for Two

Question 103

Question 103

Multiple Choice

You decide to deposit $2,000 at a local bank for two years at a 7% rate of interest compounded annually.What is the future value of your investment?


A) $2,014
B) $2,028
C) $2,280
D) $2,290

Correct Answer:

verifed

Verified

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

Related Questions

Q1: List the variables in a single-sum problem.

Q8: A deferred annuity is an annuity for

Q65: Interest calculated on the original principal regardless

Q90: The effective interest rate is the same

Q98: Explain how to determine the converted factor

Q99: When the present value of an annuity

Q101: Which of the following is false?<br>A)To calculate

Q102: Annie Laerz wants to invest $10,000 on

Q106: At the beginning of 2017,Denero Company issued

Q107: Cocopedia Inc.is planning to issue bonds that

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