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Today, Thomas deposited $190.000 in a 3-year, 12% CD that compounds quarterly. What is the maturity value of the CD?

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Today, Thomas deposited $190.000 in a 3-year, 12% CD that compounds quarterly. What is the maturity value of the CD? 

Multiple Choice

$370.698 

$270.894

$207100 

$340.908

Present and future value tables of $1 at 3% are presented below.

  


Transcribed Image Text:

N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97887 1.0000 8.97887 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0989 2.82861 3.1836 2.91347 4 1.12551 0.88849 4.1836 3.71718 4.3091 3.82861 5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 8.01969 9 1.30477 0.76642 10.1591 7.78611 10.4639 10 1.34392 0.74409 11.4639 8.53020 11.8878 8.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.1920 9.95400 14.6178 18.25262 13 1.46853 0.68095 15.6178 10.63496 16.8863 10.95400 14 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496 15 1.55797 0.64186 18.5989 11.93794 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794

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Posted Date: April 07, 2022 23:44:49
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