Assume That $1,500 Is Deposited in an Account in Which

question 98

Multiple Choice

Assume that $1,500 is deposited in an account in which interest is compounded 8 times a year, at an annual rate of 5%.Find the accumulated amount after 12 years.Round your answer to the nearest cent.

• A)$2,628.08
• B)$2,828.08
• C)$2,678.08
• D)$3,028.08
• E)$2,728.08

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Definitions:

Operating Asset

Assets utilized in the daily operations of a business to generate revenue, including both current and long-term assets.

Return On Investment

A financial metric calculating the profitability or efficiency of an investment, expressed as a percentage of the investment's cost.

Operating Assets

Operating assets are assets required for a company to conduct its daily business operations, excluding any financial investments.

Return On Investment

A metric utilized to assess the effectiveness or return on investment (ROI) or to compare the performance of various investments.