Bram Johnson Invests $500 at the End of Each Quarter

question 101

Multiple Choice

Bram Johnson invests $500 at the end of each quarter for 10 years. The account earns 12% interest annually. What is the value of the account at the end of 10 years?

• A)$37,700
• B)$37,700.60
• C)$37,000
• D)$3,700
• E)None of these

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Definitions:

Cash Dividends

Payments made by a corporation to its shareholders from its profits.

Short-term Investments

Financial assets expected to be converted into cash typically within a year, such as stocks or government bonds.

Inventory Turnover

A financial ratio that measures how many times a company's inventory is sold and replaced over a period.

Cost of Goods Sold

Specific expenses directly tied to the production of goods a company markets, such as labor and materials.