You Deposit $5,000 Today in an Account Drawing 12% Compounded

question 45

Multiple Choice

You deposit $5,000 today in an account drawing 12% compounded quarterly. How much will you have in the account at the end of 2 1/2 years?

• A) $7,401
• B) $5,523
• C) $7,128
• D) $6,720

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Definitions:

Coordinating Mechanism

Structures, processes, or systems used to align activities, efforts, and resources within an organization or among different entities towards achieving common goals.

Informal Communication

Informal communication refers to the exchange of information unofficially and without a structured format within an organization.

Work Procedures

are established methods and processes designed to guide the actions of individuals within an organization in their job tasks, ensuring consistency, efficiency, and quality of work.

Formal Hierarchy

refers to the structured organization of roles and responsibilities within an institution, where positions and their relations are clearly defined.