Given below are the future value factors for 1 at 6% for one to five periods. Interest is compounded annually at 6%. Periods Future Value of 1 at 6% 1 1.060 2 1.124 1.191 4 1.262 1.338 If $16000 is deposited in a savings account today, what amount will be available three years from today? O ($16000 x 1.060) + ($16000 x 1.124) + ($16000 × 1.191) $16000 x 1.191 O $16000 ÷ 1.191 O $16000 x 1.060 x3
Given below are the future value factors for 1 at 6% for one to five periods. Interest is compounded annually at 6%. Periods Future Value of 1 at 6% 1 1.060 2 1.124 1.191 4 1.262 1.338 If $16000 is deposited in a savings account today, what amount will be available three years from today? O ($16000 x 1.060) + ($16000 x 1.124) + ($16000 × 1.191) $16000 x 1.191 O $16000 ÷ 1.191 O $16000 x 1.060 x3
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 18E
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