Answered: Determine how much $1,000 deposited in…

Determine how much $1,000 deposited in a savings account paying 8% (compounded annually) will be worth after 5 years. a. $1,469 b. $1,400 c. $5,526 d. $784

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 2MC

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which one is correct please confirm?

QUESTION 8

Determine how much $1,000 deposited in a savings account paying 8% (compounded annually) will be worth after 5 years.

a.
$1,469

b.
$1,400

c.
$5,526

d.
$784

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