What is the future value of $500 invested at 8.94% compounded quarterly for 12.5 years (rounded to nearest $1) ?
A) $670
B) $1,510
C) $1,617
D) $46,739
Correct Answer:
Verified
Q121: You are currently earning 12% compounded semiannually.Your
Q122: One bank offers you 4% interest compounded
Q123: Today is your 21st birthday and your
Q124: It is never appropriate to compare nominal
Q125: You believe in the power of compounding
Q127: At 6 percent compounded monthly,how long will
Q128: If you put $2,000 in a savings
Q129: If you invest $750 every six months
Q130: For a given stated interest rate,an investor
Q131: A financial analyst tells you that investing
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents