Given a 7 Percent Interest Rate, Compute the Year 8

question 124

Multiple Choice

Given a 7 percent interest rate, compute the year 8 future value of deposits made in years 1, 2, 3, and 4 of $750, $1,200, $500, and $250.

• A) $3,801.62
• B) $3,899.17
• C) $4,034.20
• D) $4,167.29

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Definitions:

Securities

Financial instruments that represent ownership positions in corporations (stocks), creditor relationships with governmental bodies or corporations (bonds), or rights to ownership as represented by options.