which one is correct please confirm? Q1: "I invest GBP500,000 for one year in a deposit which pays interest of 6% compounded on a monthly basis. How much will I receive at the end of the year?" "530,838.91" "11,485,623.34" "11,489,856.02" "5,221,078,167"

which one is correct please confirm? Q1: "I invest GBP500,000 for one year in a deposit which pays interest of 6% compounded on a monthly basis. How much will I receive at the end of the year?" "530,838.91" "11,485,623.34" "11,489,856.02" "5,221,078,167"

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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which one is correct please confirm?

Q1:

"I invest GBP500,000 for one year in a deposit which pays interest of 6% compounded on a monthly basis. How much will I receive at the end of the year?"

		"530,838.91"
		"11,485,623.34"
		"11,489,856.02"
		"5,221,078,167"

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