Solve the Problem

question 38

Multiple Choice

Solve the problem.
-An investment of $13,335 earns 12% interest compounded monthly for 2 years. (a) What is the future value of the investment? (Use the compound interest table.) (b) If money can be deposited at 6% compounded quarterly, find the present value of the investment.

• A)(a)$17,931.85 (b)$10,748.77
• B)(a)$16,931.85 (b)$15,030.57
• C)(a)$14,439.89 (b)$9,462.76
• D)(a)$16,764.27 (b)$9,748.77

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Definitions:

Rescind

To withdraw, negate, or overturn a law, order, or agreement.

Asserted

Stated with confidence or declared strongly, typically without providing evidence or proof.

Concealment

The act of hiding or withholding information or facts intentionally.

Nondisclosure

Refers to the act of not sharing certain information that is usually confidential or proprietary.