The value in six years of $15,000 invested today at a stated annual interest rate of...

The value in six years of $15,000 invested today at a stated annual interest rate of 5.25% compounded quarterly is closet to:

16,220.69

20,511.81

48,376.60

20,101.43

Solutions

Expert Solution

Value of Investment = $ 15000 ; Interest Rate = 5.25% compounded quartely ; Years = 6 years

Future Value = Value *(1+interest Rate/4)^6*4 = 15000*(1+5.25/4)^6*4 = $ 20511.81

The answer is B

jeff jeffy answered 1 year ago

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