11) If a person deposits $11,500 in the bank today, what willthe money be worth in 3 years at 8% if
11) If a person deposits $11,500 in the bank today, what willthe money be worth in 3 years at 8% if
11) If a person deposits $11,500 in the bank today, what willthe money be worth in 3 years at 8% if it’s 1.) compoundedsemi-annually; 2.) compounded quarterly; and 3.) compoundedannually. a. 1.) $14,550.95; 2.) $14,584.30; 3.) $14,486.55 b. 1.)$15,550.00; 2.) $15,584.31; 3.) $15,486.65 c. 1.) $16,550.05; 2.)$16,584.32; 3.) $16,486.75 d. 1.) $17,550.99; 2.) $17,584.33; 3.)$17,486.85 e. None of the above. 12) What is the EAR for 8% if 1.) compounded annually; 2.)compounded semi-annually; and 3.) compounded quarterly. a. 1.) 8%; 2.) 8.16%; 3.) 8.24% b. 1.) 8%; 2.) 8.10%; 3.) 8.34% c. 1.) 8%; 2.) 8.2%; 3.) 8.44% d. 1.) 8%.1; 2.) 8.4%; 3.) 8.54% e. None of the above. . . .
