You deposited ($1,000 ) in a savings account that pays 8 percent interest, compounded quarterly, planning to use it to finish your last year in college
Eighteen months later, you decide to go to the Roshy Mountains to become a ski instructor rather than continue in school, so you close out your account. How much money will you receive? (Round to the nearest whole dollar)
A) $1,171
B) $1,126
C) $1,082
D) $1,163
E) $1,008
B
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When does the liquidation basis of accounting first have to be applied to financial statements of a liquidating entity to be viewed as in conformity with U.S. GAAP?
A. When an involuntary bankruptcy petition is approved by the court. B. When liquidation is imminent. C. When the first asset is sold. D. At least 90 days before the final asset is sold.
An agent may pay a fee to an unlicensed party who
A. shows property. B. negotiates sale or lease terms. C. takes a deposit from a buyer. D. introduces the buyer to the broker.