Solved

You Deposit $1,000 in the Bank and Leave It for Five

Question 21

Multiple Choice

You deposit $1,000 in the bank and leave it for five years at 3 percent annual interest,making no additional transactions on this account.At the end of the five years,you withdraw the principal and any accumulated interest; the amount you would withdraw would be


A) $1,000.
B) $1,030.
C) $1,150.
D) more than $1,150 but less than $1,500.
E) more than $1,500.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents