If You Invest $47 000 for Five Years at 9

question 56

Multiple Choice

If you invest $47 000 for five years at 9.7% p.a.(interest paid annually and then reinvested) ,what is the value of your investment at the end of the five-year period?

• A)$81 910.13
• B)$74 667.39
• C)$56 560.22
• D)$62 046.56

---

Definitions:

Decimal Places

The number of digits to the right of the decimal point in a numerical value, indicating its precision.

Currency Data Type

A special type of data in programming and databases designed to accurately store and handle monetary values, including specific precision and formatting.

Yes/No Field

A type of data field used in databases and forms that allows users to choose between two options, typically "yes" or "no."

Check Box

an interactive box in forms and questionnaires that can be marked to indicate a choice or decision among several options.