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A bond is worth $100 and grows in value by 4 percent each year. Assuming this bond compounds quarterly, what is the value of the bond after 5 years? Responses $121.67 $122.02 $1…

A bond is worth $100 and grows in value by 4 percent each year. Assuming this bond compounds quarterly, what is the value of the bond after 5 years? Responses $121.67 $122.02 $1…
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A bond is worth $100 and grows in value by 4 percent each year. Assuming this bond compounds quarterly, what is the value of the bond after 5 years?

Responses

$121.67
$122.02
$122.67
$120.00

asked
User Jack C
by
8.2k points

1 Answer

3 votes

Answer:it will be D

Step-by-step explanation: because $100 + 4%=$100.4

answered
User SlaneR
by
7.7k points
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