Pedro Gonzalez will invest $5,000 at the end of each year. If the interest rate is 8%, what will the value be after three years?
A) $12,885
B) $6,300
C) $16,230
D) $15,400

Name: Pedro Gonzalez will invest $5,000 at the end of each year. If the interest rate is 8%, what will the value be after three years? A) $12,885 B) $6,300 C) $16,230 D) $15,400
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Question

Quizplus · Accepted Answer

FV_A= A × FV_IFA(App. C: 8%, 3 periods) = $5,000 × (3.246) = $16,230

Pedro Gonzalez Will Invest $5,000 at the End of Each