Solved

You Expect to Receive $1,000 at the End of Each

Question 37

Multiple Choice

You expect to receive $1,000 at the end of each of the next three years that you plan to deposit in a bank account paying 6%. Which of the following expressions will calculate your bank balance just after the last payment is deposited?


A) FV = $1,000 [FVF6,1] + $1,000 [FVF6,2] + $1,000 [FVF6,3]
B) FV = $1,000 [1.06]1 + $1,000 [1.06]2 + $1,000 [1.06]3
C) FVA3 = $1,000 [FVFA6,3]
D) All of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents