If $100 Is Placed in an Account That Earns a Simple

question 19

Multiple Choice

If $100 is placed in an account that earns a simple 4 percent,compounded quarterly,what will it be worth in 5 years?

• A) $122.02
• B) $105.10
• C) $135.41
• D) $120.90
• E) $117.48

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Definitions:

Issued Shares

A corporation’s shares that a corporation has sold to its shareholders. Includes shares repurchased by the corporation and retained as treasury shares, but not shares canceled or returned to unissued status.

Model Nonprofit Corporation Act

A guideline for the governance of nonprofit organizations, providing a standard legal framework for their formation and operation.

Nonprofit Corporation

An entity designed to operate without the objective of making profits for its owners or members, often focused on serving the community or public interest.

Minimum Number

The smallest quantity or amount permitted or required under certain conditions or for a specific process.