Present and Future Value Tables of $1 at 9% Are

question 90

Multiple Choice

Present and future value tables of $1 at 9% are presented below.

-Ajax Company purchased a five-year certificate of deposit for its building fund in the amount of $220,000. How much should the certificate of deposit be worth at the end of five years if interest is compounded at an annual rate of 9%?

• A) $855,723.
• B) $142,985.
• C) $319,000.
• D) $338,496.

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