At the end of two years, what will be the balance in a savings account paying 6% annually if $10,000 is deposited today? The future value of one at 6% for one period is 1.06. a. $10,000 b. $10,600 c. $11,200 d. $11,236

At the end of two years, what will be the balance in a savings account paying 6% annually if $10,000 is deposited today? The future value of one at 6% for one period is 1.06. a. $10,000 b. $10,600 c. $11,200 d. $11,236

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Question

At the end of two years, what will be the
balance in a savings account paying 6%
annually if $10,000 is deposited today? The
future value of one at 6% for one period is
1.06.
a. $10,000
b. $10,600
c. $11,200
d. $11,236

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