f Alice Godfried invests $14,000 today at a rate of 4% compounding yearly, what
ID: 2331580 • Letter: F
Question
f Alice Godfried invests $14,000 today at a rate of 4% compounding yearly, what will the value of the investment be in 8 years?
Future Value of $1
4%
5%
6%
7%
8%
9%
7
1.316
1.407
1.504
1.606
1.714
1.828
8
1.369
1.477
1.594
1.718
1.851
1.993
9
1.423
1.551
1.689
1.838
1.999
2.172
10
1.480
1.629
1.791
1.967
2.159
2.367
$18,311
$19,967
$19,166
$19,000
Future Value of $1
4%
5%
6%
7%
8%
9%
7
1.316
1.407
1.504
1.606
1.714
1.828
8
1.369
1.477
1.594
1.718
1.851
1.993
9
1.423
1.551
1.689
1.838
1.999
2.172
10
1.480
1.629
1.791
1.967
2.159
2.367
Explanation / Answer
Value of the investment be in 8 years = 14000*Future Value of $1(4%,8 years) = 14000*1.369= $19166 Option C is correct
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