14
QuizMultiple Choice

Compound Interest — Test

Question 14 • 26-27 Ignite Technical Math-Financial Math - MA2007

Solve the problem. Round to the nearest cent.Barbara knows that she will need to buy a new car in 3 years. The car will cost $15,000 by then. How much should she invest now at 7%, compounded quarterly, so that she will have enough to buy a new car?a.$12,180.87c.$13,529.14b.$13,101.58d.$11,443.43

Answer
A
A
B
B
C
C
D
D
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