If you invest $5,000 at an annual compound interest rate of 6% for 2 years, what will be the final amount? (Round to nearest dollar) a) $5,618 b) $5,300 c) $5,612 d) $5,500

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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If you invest $5,000 at an annual compound
interest rate of 6% for 2 years, what will be the final
amount? (Round to nearest dollar) a) $5,618 b)
$5,300 c) $5,612 d) $5,500
Transcribed Image Text:If you invest $5,000 at an annual compound interest rate of 6% for 2 years, what will be the final amount? (Round to nearest dollar) a) $5,618 b) $5,300 c) $5,612 d) $5,500
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