Present and future value tables of $1 at 3% are presented below:

-Today, Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. What is the maturity value of the CD?
A) $109,270.
B) $119,410.
C) $142,576.
D) $309,090.

Question

Present and future value tables of $1 at 3% are presented below:

-Today, Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. What is the maturity value of the CD?
A) $109,270. 
B) $119,410. 
C) $142,576. 
D) $309,090.

Quizplus · Accepted Answer

FV = $100,000 × 1.42576* = $142,576
*FV of $1: n = 12; i = 3%

Present and Future Value Tables of $1 at 3% Are