10
InstructionMultiple Choice

Interest

Question 10 • SNHS Financial Math - MA2007

Solve the problem. Round to the nearest cent. Mrs. Stevens wants to have $18,000 in the bank in 3 years. If she deposits $9500 today at 4% compounded quarterly for 3 years, how much additional money will she need to add after three years to her investment to make her balance $18000?

Answer
A
$8356.79
B
$0
C
$7295.16
D
$10,704.84