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You deposited ($1,000) in a savings account that pays 8 percent interest, compounded quarterly, ...

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You deposited ($1,000) in a savings account that pays 8 percent interest, compounded quarterly, ...

You deposited ($1,000) in a savings account that pays 8 percent interest, compounded quarterly, planning to use it to finish your last year in college. Eighteen months later, you decide to go to the Roshy Mountains to become a ski instructor rather than continue in school, so you close out your account. How much money will you receive? (Round to the nearest whole dollar)
A) $1,171
B) $1,126
C) $1,082
D) $1,163
E) $1,008

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Corporate Finance Online

Edition: 1^st

Authors: Eakins, McNally

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Pol. Sci. Major
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bigexternal Author

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7 years ago

Firstly, thank you for responding
Secondly, ur right!

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We're using: Corporate Finance Online (Eakins, McNally)

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