Suppose That You Placed $500 in a Bank Account at the End

question 79

Multiple Choice

Suppose that you placed $500 in a bank account at the end of each year for the next 10 years.How much would be in that account at the end of the tenth year if the deposits earned an annual rate of return of 8% each year?

• A)$8,079.46
• B)$5,400.00
• C)$7,243.28
• D)$6,355.04
• E)$7,774.51

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Definitions:

Terminated

Ended or concluded, often referring to contracts, employment, or agreements.

Contractual Obligations

Specific duties or tasks that parties are bound to perform under a contract.

Specific Subject Matter

The particular focus or theme of a legal document, agreement, or discussion.

Destroyed

Rendered useless or completely obliterated.