Parks Blair Invested $5,000 at 8% Annual Interest and Left

question 129

Multiple Choice

Parks Blair invested $5,000 at 8% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Parks decided to withdraw the accumulated amount of money. Parks has found the following values in various tables related to the time value of money. To the closest dollar, which amount would he withdraw, assuming that the investment earns interest compounded annually?

• A) $42,797
• B) $75,000
• C) $1,576
• D) $15,861

Comprehend the roles and responsibilities of IT managers in the systems development process.

Recognize the characteristics and requirements of remote IT jobs.

Identify and match IT roles with their corresponding responsibilities.

Describe the importance of professional organizations in networking and career development for IT professionals.

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Definitions:

Income Tax Rate

The proportion or percentage of income that is paid as tax to the government, varying according to income levels or earnings.

Rent Revenue Receivable

This is income that a company expects to receive from properties it rents out but has not yet collected.

Adjusting Entry

An accounting record created at the conclusion of a financial period for the purpose of assigning earnings and costs to the period they were incurred.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue; also known as net earnings.