Solved

Scenario: Wendy and John Each Deposit $2,000 in a Bank

Question 33

Multiple Choice

Scenario: Wendy and John each deposit $2,000 in a bank account at different rates of interest. Wendy receives interest on her deposit at an annual rate of 6 percent, while John receives interest at an annual rate of 9 percent.
-Refer to the scenario above.What will be the future value of John's deposit after 1 year?


A) $2,120
B) $2,180
C) $2,320
D) $2,460

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