menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Practical Financial Management Study Set 1
  4. Exam
    Exam 6: Time Value of Money
  5. Question
    If You Deposit $3500 in a Bank Account Paying 6
Solved

If You Deposit $3500 in a Bank Account Paying 6

Question 49

Question 49

Multiple Choice

If you deposit $3500 in a bank account paying 6% interest and leave it there for fifteen years, how much will you have?


A) $1,460.55
B) $3,399.27
C) $8,388.10
D) $81,466.00

Correct Answer:

verifed

Verified

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

Related Questions

Q28: The opportunity cost of using a resource

Q44: Find the present value of a perpetuity

Q45: Which of the following cash flows is

Q46: Compounding periods theoretically:<br>A)cannot be greater than six

Q47: What present amount is equivalent to $100

Q48: You are considering buying a new car.

Q51: Present value factors for amounts are reciprocals

Q52: A $300,000.00 thirty year mortgage has a

Q53: What is the rate of interest on

Q54: How much will you have to save

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