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If You Want to Have $10,000 in 10 Years,which of the Following

Question 38

Multiple Choice

If you want to have $10,000 in 10 years,which of the following formulae represents how much money you must put in a savings account today? Assume that the savings account pays 6% and it is compounded monthly.


A) 10,000/(1 + .05) 10
B) 10,000/(1 + .005) 120
C) 10,000/(1 + .06) 10
D) 10,000/(1 + .006) 120

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