Solved

Use This Information to Answer the Following Question A Single Deposit of $3,500 Made at the Beginning of

Question 126

Multiple Choice

Use this information to answer the following question.  Periods  Future Value of $1 at 12 Percent  Future Value of Ordinary Annuity of $1 at 12 Percent 11.1201.00021.2542.12031.4053.374\begin{array}{|c|c|c|}\hline \text { Periods } & \text { Future Value of } \$ 1 \text { at } 12 \text { Percent } & \begin{array}{c}\text { Future Value of Ordinary Annuity of } \$ 1 \\\text { at } 12 \text { Percent }\end{array} \\\hline 1 & 1.120 & 1.000 \\\hline 2 & 1.254 & 2.120 \\\hline 3 & 1.405 & 3.374 \\\hline\end{array} A single deposit of $3,500 made at the beginning of period 1 would grow to how much at the end of three years?


A) $3,920.00
B) $4,917.50
C) $4,389.00
D) $11,809.00

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