How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?
A) $70.00
B) $80.14
C) $105.62
D) $140.00
Correct Answer:
Verified
Q26: An investment offers to pay $100 a
Q27: Present values can always be calculated by
Q28: A car's price is currently $20,000 and
Q29: Given the future value,which of the following
Q30: An annuity due must have a present
Q32: If interest is compounded semi-annually rather than
Q33: As long as the interest rate is
Q34: What is the future value of $10,000
Q35: An investment of $100 pays interest of
Q36: The concept of compound interest refers to:
A)
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