What is the future value of $10,000 on deposit for 5 years at 6% simple interest?
A) $13,000.00
B) $13,382.26
C) $7,472.58
D) $10,303.62
Answer: A) $13,000.00
Business
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Equity securities are an investment in the common or preferred shares of another company
Indicate whether the statement is true or false.
Business
Jeff desires to accumulate $13,603.83 by December 1, 2018. To accumulate that sum, he will make six equal semiannual deposits of $2,000, beginning on June 1, 2016, into a fund that earns interest compounded semiannually. What annual rate of interest must the fund provide to yield the desired sum?
A) 5% B) 6% C) 10% D) 12%
Business