Find the Amount That Results from the Investment

question 72

Multiple Choice

Find the amount that results from the investment.
-$1,000 invested at 6% compounded annually after a period of 8 years

• A) $1,503.63
• B) $593.85
• C) $1,689.48
• D) $1,593.85

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Definitions:

Replacement Cost

The current cost of replacing an asset with a new asset of similar kind and quality, often used in insurance and accounting.

Cost Of Completion

The estimated expenses that are yet to be incurred to complete an ongoing project or to bring an asset to its intended use.

Market Value

The present cost at which a service or asset is available for purchase or sale in a market setting.

Replacement Cost

The current cost to replace an asset with a similar one of equivalent utility and quality, without considering depreciation.