Find the Compound Amount for the Deposit

question 36

Multiple Choice

Find the compound amount for the deposit. Round to the nearest cent.
-$600 at 8% compounded quarterly for 5 years

• A) $840.00
• B) $881.60
• C) $662.45
• D) $891.57

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Definitions:

OSHA Workplace Standards

Regulations and guidelines issued by the Occupational Safety and Health Administration to ensure safe and healthful working conditions for working men and women.

Maturity

The stage of the organization when the business is considered well established.

Inventory

A company's stock of goods or materials, which are held for the purpose of resale or in the production process.

Loan

A sum of money that is borrowed, which must be paid back with interest.