If $100 is placed in an account that earns a nominal 4%,compounded quarterly,what will it be worth in 5 years?
A) $122.02
B) $105.10
C) $135.41
D) $120.90
E) $117.48

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc25_4eb9_a768_3d3df2238445_TB2902_00 FV = 100 (1 + ( 11ea7fdb_fc25_75ca_a768_619dbfa0ba83_TB2902_00 ))²⁰ = $122.02 On a financial calculator: N = 20, I/Y = 1, PV = -100, cpt FV = $122.02

If $100 Is Placed in an Account That Earns a Nominal