Your great-aunt wants to help with your college graduation party.She has just placed $5,000 dollars in a bank account that will earn an annual rate of return of 6%.If you graduate in four years,how much will be in your party account?
A) $7,120.89
B) $6,142.96
C) $5,960.47
D) $6,312.38
Correct Answer:
Verified
Q25: Using the Rule of 72,approximately how long
Q26: You have been saving toward the purchase
Q27: Suppose that you placed $500 in a
Q28: Suppose that you place $450 in a
Q29: Using the Rule of 72,if it will
Q31: Your great-uncle placed $500 a year in
Q32: A method by which one can compare
Q33: A compound interest table is useful in
Q34: You invest $1,000 at age 20 at
Q35: Your daughter has been saving $500 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