Compound Interest Is Computed Quarterly on $700 for Seven Years

question 77

Multiple Choice

Compound interest is computed quarterly on $700 for seven years at 12 percent annual interest.The future value table is used by multiplying the $700 by which factor?

• A)28 periods at 3 percent
• B)7 periods at 3 percent
• C)7 periods at 12 percent
• D)28 periods at 7 percent

---

Definitions:

Immigrant Parents

Parents who have moved from one country to another, often facing transitional challenges and cultural integration.

United States

A country located primarily in North America, known for its significant global economic and cultural impact.

Percentage

A mathematical term describing a number or ratio expressed as a fraction of 100.

Outside Authority

A source of influence or control that is external to oneself or one's immediate environment.