Georgia deposits $4,000 every three months for five years. The first deposit is made on March 31, 2016, and the last deposit is made on December 31, 2020. The fund earns 16% and interest is compounded quarterly. How much money will Georgia have on December 31, 2020, immediately after her last deposit? Factors for future value of an annuity of $1 are
A. $123,876
B. $119,112
C. $110,034
D. $107,508
Answer: B
You might also like to view...
Solve.The height of the tallest building in Anne's home town is 
which is about 
taller than the tallest building in Laurie's home town. What is the height of the tallest building in Laurie's home town?
A. 1069 ft B. 369 ft C. 350 ft D. 482 ft
?The future value of an amount depends on two variables: the interest rate and the number of payments
Answer the following statement true (T) or false (F)
Solve the equation for the unknown quantity.5x + 5 = 4x + 14
A. 11
B. 
C. 1
D. 9
David Company borrowed $550,000 on December 31, 2014. The loan will be paid with six equal annual payments of $115,388, beginning on December 31, 2015. The rate of interest compounded annually for the loan is most nearly equal to
A. 9%. B. 8%. C. 7%. D. 6%.