Multiple Choice
Suppose you put $500 into a bank account today.Interest is paid annually and the annual interest rate is 3%.The future value of the $500 in 5 years to the nearest cent is
A) $575.00
B) $578.81
C) $579.64
D) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q177: Suppose you put $500 into a bank
Q178: Suppose the interest rate is 8 percent.Consider
Q179: Al,Ralph,and Stan are all intending to retire.Each
Q180: If you presently have $50,000 saved and
Q181: The future value of a deposit in
Q183: What is the future value of $450
Q184: Suppose you will receive $800 in two
Q185: Imagine that two years ago you inherited
Q186: You are better off choosing $100 today
Q187: What is the present value of a