Multiple Choice
If you want to have $10,000 in 10 years,which of the following formulas represents how much money you must put in a savings account today? Assume that the savings account pays 6% and it is compounded monthly.
A) 10,000/(1 + .05) 10
B) 10,000/(1 + .005) 120
C) 10,000/(1 + .06) 10
D) 10,000/(1 + .006) 120
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q7: How much money must be put into
Q8: High discount rates favor<br>A) neither long-term nor
Q12: If you want to have $1,200 in
Q13: At 8% compounded annually, how long will
Q22: The present value of a single future
Q58: As the discount rate increases, the present
Q66: Money has a greater time value time
Q76: The present value of a future sum
Q79: If you want to have $1,700 in
Q84: If you deposit $1,000 each year in