Use interest tables. Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How much will be in the account at the end of 4 years? Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed. A F = $1,000 (F/P,12%,4) = $1,000 (1.574) = $1,574 B F = $1,000 (F/P,12%,16) = $1,000 (6.130) = $6,130 C F = $1,000 (F/P,3%,4) = $1,000 (1.126) = $1,126 D F = $1,000 (F/P,3%,16) = $1,000 (1.605) = $1,605
Use interest tables. Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How much will be in the account at the end of 4 years? Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed. A F = $1,000 (F/P,12%,4) = $1,000 (1.574) = $1,574 B F = $1,000 (F/P,12%,16) = $1,000 (6.130) = $6,130 C F = $1,000 (F/P,3%,4) = $1,000 (1.126) = $1,126 D F = $1,000 (F/P,3%,16) = $1,000 (1.605) = $1,605
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use interest tables. Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How much will be in the account at the end of 4 years?
Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed.
A F = $1,000 (F/P,12%,4) = $1,000 (1.574) = $1,574
B F = $1,000 (F/P,12%,16) = $1,000 (6.130) = $6,130
C F = $1,000 (F/P,3%,4) = $1,000 (1.126) = $1,126
D F = $1,000 (F/P,3%,16) = $1,000 (1.605) = $1,605
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