Assume you make monthly deposits of $3,000 now into an account that pays 12% per year, compounded monthly. If you want to know the total amount after 2 years, the value of interest rate (i) you should...


Assume you make monthly deposits of $3,000 now into an account that pays 12% per year,<br>compounded monthly. If you want to know the total amount after 2 years, the value of interest<br>rate (i) you should use in the F/P factor is:<br>Select one:<br>a. 1%<br>b. 3%<br>с. 12%<br>d. 24%<br>

Extracted text: Assume you make monthly deposits of $3,000 now into an account that pays 12% per year, compounded monthly. If you want to know the total amount after 2 years, the value of interest rate (i) you should use in the F/P factor is: Select one: a. 1% b. 3% с. 12% d. 24%

Jun 03, 2022
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