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Assume that $100 is deposited at the end of each year for five years at 10% compound interest and ...

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Assume that $100 is deposited at the end of each year for five years at 10% compound interest and ...

Assume that $100 is deposited at the end of each year for five years at 10% compound interest and that no withdrawals are made over the five-year period. Based on this data, which one of the following statements is correct?

▸ The future value will be $550.

▸ The present value can be determined by computing the present value of $500 in five years at 10%.

▸ The present value can be determined by computing the present value of a $100 ordinary annuity for five years at 10%.

▸ The present value will be $500.

Textbook

Fundamentals of Investing

Edition: 14^th

Authors: Zutter, Smart

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mhbtelc Author

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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