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Home Q & A Board Other Fields Homework Help Business Management
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stranahan stranahan
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7 years ago
Your aunt places $13,000 into an account earning an interest rate of 7% per year. After 5 years the account will be valued at $18,233.17. Which of the following statements is correct?
A) The principal is $13,000, the time period is 7 years, the future value is $18,233.17, and the interest rate is 5%.
B) The present value is $13,000, the time period is 7 years, the present value is $18,233.17, and the interest rate is 5%.
C) The future value is $13,000, the time period is 5 years, the principal is $18,233.17, and the interest rate is 7%.
D) The principal is $13,000, the time period is 5 years, the future value is $18,233.17, and the interest rate is 7%.
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
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blightermournblightermourn
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7 years ago
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Kumbaya my lord, Kumbaya

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stranahan Author
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#2
7 years ago
Thank you for  the help. I had a few questions on a few of them and this really confirmed my answers.
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