What Amount Invested at 10% Compounded Semiannually Will Be Worth

question 251

Multiple Choice

What amount invested at 10% compounded semiannually will be worth $6380.00 after 38 months?

• A) $8690.00
• B) $6331.04
• C) $4684.05
• D) $999.14
• E) $3488.73

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Definitions:

Mislaid Property

Property that is intentionally placed somewhere but then forgotten by the owner.

Lost Property

Items that are unintentionally left by their owner at a specific location, which can then be found by others.

Bailment

A legal relationship where physical possession of personal property, or a chattel, is transferred from one party to another, with the understanding that the property will be returned or otherwise disposed of according to the owner's instructions.

Bailor

A person or entity that entrusts their property into the hands of another, called the bailee, under an agreement for a specific purpose.