Today, Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. What is the maturity...

Question

Question

business accounting

Answer 1

Answer #1

Answer : $142,576

Maturity Value= Deposit *( 1+r)^n

r= 3%= 12%/4 = 3%

n= 12 = 3*4 = 12

Maturity Value of Cash Deposit :

=100,000*(1.03)^12 = $142,576

Answer 2

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