Multiple Choice
Alva Thomas has decided to place $10,000 in an account payable to his alma matter when he dies. If the account grows at an annual rate of 6% compounded monthly and he lives for another 10 years, the university will receive
A) 10,000(1 + .06) 10
B) 10,000(1 + .005) 120
C) 10,000(1 + .06) 120
D) 10,000/(1 + .005) 120
Correct Answer:
Verified
Correct Answer:
Verified
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