Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 19 you deposited $1,000 in a savings acco

Question 19 You deposited $1,000 in a savings account that pays 8 percent interest, compounded...

50.1K

Verified Solution

Question

Accounting

Question 19 You deposited $1,000 in a savings account that pays 8 percent interest, compounded quarterly, planning to use it to finish your last year in college. Eighteen months later. you decide to go to the Rocky Mountains to become a ski instructor rather than continue in school, so you close out your account. How much money will you receive?
$1126.16
$1163.92
None of the answers in this list is within $0.20 of the correct answer.
$1082.61
$1008.06
$1171.32

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

What factors appear to influence the types of services an international banking firm chooses to offer its...

Statistics
1.2K views

x:4,5,3,6,10 y:4,6,5,7,7 A.)Determine .95 confidence interval for the mean perdicted when x =7 b.) Determine the .95 perdection interval...

Chemistry
1.2K views

In one page, write a short summary on a scientist who studied a kinetic process...

Physics
1.2K views

As the winter passes, the Earth spins as usual around the Sun. On a cold February...

Biology
1.2K views

Edit View Insert Format Tools Table

Basic Math
1.2K views

Suppose Petrick Goldsmith deposited 1000 simple interest at an Quarterly account anual rate of 7...

Algebra
1.2K views

Find the missing side Enter sin cos or tan N 28 15 28 Z Remember...

Accounting
1.2K views

Need Help Below is the trial balance of YilMaz Inc. at December 31,2019...

Accounting
1.2K views

On April 3, a business counted $3,400.10 cash received from the days sales. According to...

Accounting
1.2K views

22. Read the paragraph below (extracted from Building public trust. The future of corporate reporting...

Finance
1.2K views

Question 8 (1 point) Consider a portfolio with a market value of $50 million and...

Accounting
1.2K views

Rodney Company has the following sales budget: Month Cash Sales Credit Sales September $100,000 $250,000...