You Expect to Receive $1,000 at the End of Each

question 32

Multiple Choice

You expect to receive $1,000 at the end of each of the next 3 years.You will deposit these payments into an account which pays 10 percent compounded semiannually.What is the future value of these payments,that is,the value at the end of the third year?

• A) $3,000
• B) $3,310
• C) $3,318
• D) $3,401
• E) $3,438