The Future Value of an $11,600 Investment at the End

question 3

Multiple Choice

The future value of an $11,600 investment at the end of 5 years with an interest rate of 12% compounded quarterly is:

• A)$20,442.68
• B)$18,560.00
• C)$20,950.89
• D)$ 6,581.84

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Definitions:

Tort Claim

A legal claim arising from an act or omission that causes harm or injury, which is not derived from a contract breach.

Agency Relationship

A legal and fiduciary relationship where one party, the agent, acts on behalf of another, the principal, in business transactions.

Agent's Negligence

A failure by an agent to exercise the care, diligence, and skill that a reasonably prudent person would exercise in similar circumstances.

Principal

Principal refers to the original sum of money loaned or invested, before interest, or the main party to a transaction or agreement.