Multiple Choice
Over time,the future value of $1000 invested today at 6 per cent,compounded annually,will increase by:
A) a constant annual amount given the interest on interest effect
B) a constant annual amount given that interest is compounded annually
C) a decreasing annual amount due to the compounding effect
D) an increasing annual amount given the compound interest effect
E) an increasing annual amount due to the effects of the simple interest rate
Correct Answer:
Verified
Correct Answer:
Verified
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