A Deposit of $25,000 Is Made on February 28^th,2007

question 54

Multiple Choice

A deposit of $25,000 is made on February 28^th,2007.Given a simple discount rate of d = 8%,what is the accumulated value of the $25,000 on May 18^th,2007,assuming the bankers rule for t?

• A)$25,446.73
• B)$25,440.50
• C)$25,438.89
• D)$25,432.88

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Chubb's Business

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