QUESTION 6
Find Future Value Using Compound Interest Formula:
You deposit $300 in an account earning 7% interest compounded semi-annually. How much will you have in the account in 20 years?
A. $720
B. $596.94
C. $1,187.78
D. $1,140
QUESTION 7
Find Future Value Using Compound Interest Formula:
You deposit $3,000 in an account earning 3% interest compounded monthly. How much will you have in the account in 15 years?
A. $3,091.25
B. $4,702.30
C. $4,507.25
D. $3,033.62