Multiple Compounding (PV): Darius Miller Is Seeking to Accumulate $50,000

question 91

Multiple Choice

Multiple compounding (PV) : Darius Miller is seeking to accumulate $50,000 in six years to invest in a real estate venture. He can earn 6.35 percent annual interest with monthly compounding in a private investment. How much will he have invest today to reach his goal? (Round to the nearest dollar.)

• A) $37,527
• B) $47,015
• C) $34,193
• D) $31,648

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Exculpatory Clause

A clause in a contract that exempts a party from responsibility for any damages that occur while the contract is being carried out.

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