What's the Future Value of $1,600 After 5 Years If

question 117

Multiple Choice

What's the future value of $1,600 after 5 years if the appropriate interest rate is 6%,compounded monthly?

• A) $2,093.42
• B) $2,158.16
• C) $2,179.74
• D) $2,676.12
• E) $2,417.14

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Definitions:

Stock Price

The existing rate at which shares of a specific company are available for purchase or sale on the stock exchange.

Next Dividend

The upcoming payment declared by a company's board of directors to be distributed among shareholders.

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The most recent price at which a stock was traded on a public exchange.