Multiple Choice
You are considering an investment in a Third World bank account that pays a nominal annual rate of 18%,compounded monthly.If you invest $5,000 at the beginning of each month,how many months would it take for your account to grow to $280,000? Round fractional months up.
A) 39
B) 41
C) 43
D) 50
E) 36
Correct Answer:
Verified
Correct Answer:
Verified
Q7: You just deposited $6,500 in a bank
Q9: Sam was injured in an accident,and the
Q10: Your bank offers to lend you $113,200
Q13: Your brother's business obtained a 30-year amortized
Q17: You are offered a chance to buy
Q32: Which of the following statements is CORRECT,assuming
Q62: You plan to invest some money in
Q82: The present value of a future sum
Q136: A U.S.Treasury bond will pay a lump
Q145: Your bank account pays an 8% nominal