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NEW QUESTION: 1
Your investment rate of return is 6% per year and you invest according to the following schedule:
Beginning of year 1: $100
Beginning of year 2: $200
Beginning of year 3: $300
Beginning of year 4: $400
The amount you will have at the end of year 4 is:
A. $808
B. $845
C. $640
D. $1,125
Answer: D
Explanation:
Explanation/Reference:
Explanation:
This is a future value question. The amount at the end of year 4 = 100*(1.06