If $100,000 is invested at 5.0% annual interest, compounding monthly, what is the balance after 3 years? a. $133,333 b. $152,120 c. $161,472 d. $159,124

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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If $100,000 is invested at 5.0%
annual interest, compounding
monthly, what is the balance after 3
years? a. $133,333 b. $152,120 c.
$161,472 d. $159,124
Transcribed Image Text:If $100,000 is invested at 5.0% annual interest, compounding monthly, what is the balance after 3 years? a. $133,333 b. $152,120 c. $161,472 d. $159,124
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