Present and future value tables of $1 at 3% are presented below. 1 1.03000 0.970

Question

Present and future value tables of $1 at 3% are presented below. 1 1.03000 0.97087 ..97087 1.300 1.00 2 1.06090 0.94260 3 | 1.09273|0.915 4 1.12551 0.88849 5 1.15927 | 0.86261 | 5.3091 | 4.57971 5.4684 4.71710 6 1.19405 .83748 6.4684 5.417196.6625 5.57971 7 1.229870.81309 8 1.26677 0.78941 9 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 1.34392.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.7224212.8078 9.25262 13.19209.53020 12 1.42576 0.70138 14.19209.95400 14.6178 10.25262 2.03001.91347 143.0909 2.82861 18363.7171e 2.0909 1.97087 3.1836 2.91347 4.3091 3.82861 4. 7.6625 6.23028 8.89237.01969 7.8923 6.41719 9.1591 7.23028 13 1.46853 0.68095 15.6178 10.63496 16.9863 10.95480 14 1.51259 .66112 | 17.0863 | 11.29687 | 17.5989 | 11.63496 15 .5 .641 8.5989 | 11.93794 | 19.1569 | 12.29687 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 Today, Thomas deposited $140,000 in a 4-year, 12% CD that compounds quarterly, what is the maturity value Multiple Choice

Explanation / Answer

FV = $140,000 x 1.60471* = $224,659.4

*FV of $1: n = 16; i = 3%

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