Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. five years from today, you plan to invest $2,950 f

Five years from today, you plan to invest $2,950 for 8 additional years at 5.3 percent...

80.2K

Verified Solution

Question

Finance

Five years from today, you plan to invest $2,950 for 8additional years at 5.3 percent compounded annually. How much willyou have in your account 13 years from today?

Multiple Choice $4,962.80 $4,459.12 $4,845.57 $3,819.12

Answer & Explanation Solved by verified expert
3.9 Ratings (624 Votes)
Solution The formula for calculating the future value of an Investment with compound Interest is P 1 rn n t Where P Principal r    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

Five years from today, you plan to invest $2,950 for 8additional years at 5.3 percent compounded annually. How much willyou have in your account 13 years from today?Multiple Choice $4,962.80 $4,459.12 $4,845.57 $3,819.12

Other questions asked by students

Q

Discuss the controversy surrounding divorce. What arguments do people make in support of more easily accessible...

Psychology
Q

Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company...

Accounting
Q

13 3 The ions O F Na Mg2 and Al are isoelectronic Their ionic radii...

Physics
Q

According to Bohr s theory the energy of an electron in hydrogen atom in states...

Physics
Q

The number of visits to public libraries increased from 1.2 billion in 1996 to 1.6...

Basic Math
Q

Evaluate the limit using L H pital s rule 5x lim xx 3x 818

Calculus
Q

onvert the following degree measure to radians 0 Points 0 of 1 330 radian s...

Algebra
Q

what is bilateral

Accounting
Q

Cambria Company reports net sales of $4,315 million; cost of goods sold of $2,808 million;...

Accounting
Q

The management of Sandhill Company SE is reevaluating the appropriateness of using its present inventory...

Accounting
Q

2. Problem 18-03 eBook Problem 18-03 The federal corporate income tax rate is 35 percent...

Finance
Q

need help please thank you The controller of Rather Production has collected the following...

Accounting