Suppose you make equal quarterly deposits of $1.000 into a fund that pays interest a rate of 16% per year compounded monthly. The balance at the end of year three is closest to? F=? T 1-16% A $1000 Years $15070.5 AO None of them O O $21940.6 $12230.4 DO $19070.60

Suppose you make equal quarterly deposits of $1.000 into a fund that pays interest a rate of 16% per year compounded monthly. The balance at the end of year three is closest to? F=? T 1-16% A $1000 Years $15070.5 AO None of them O O $21940.6 $12230.4 DO $19070.60

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...

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Please fast.

Suppose you make equal quarterly deposits of $1,000 into a fund that pays interest a rate of 16% per year compounded monthly.
The balance at the end of year three is closest to?
ㅠ
1=16%
A $1000
F=?
Years
$15070.5 AO
None of them O
$21940.6 O
$12230.4 O
$19070.60

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