1. What's the future value of $1,500 after 5 years if the appropriate interest rate is 6%, compounded annually? * O a) $2,620 O b) $5,016 c) $2,007 O d) $1,500 e) None of the above O O O
1. What's the future value of $1,500 after 5 years if the appropriate interest rate is 6%, compounded annually? * O a) $2,620 O b) $5,016 c) $2,007 O d) $1,500 e) None of the above O O O
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 5PROB
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Transcribed Image Text:1. What's the future value of
$1,500 after 5 years if the
appropriate interest rate is 6%,
compounded annually? *
O a) $2,620
O b) $5,016
c) $2,007
d) $1,500
O e) None of the above
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