If $450,000 is invested on June 3 at 7.75%, what will be the value of the investment on December 11?
A) $468,250
B) $466,625
C) $632,497
D) $432,461
E) $484,875

Question

Quizplus · Accepted Answer

The correct answer is A because the value of the investment on December 11 will be $468,250. This is calculated by multiplying the investment amount by the interest rate and the number of days in the investment period, and then dividing by 360.

If $450,000 Is Invested on June 3 at 7