Account after five years if interest is reinvested, Accounting Basics

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Account after five years if interest is reinvested

Assume ABC Company deposits $50,000 with First National Bank in an account earning interest at 6% per annum, compounded semi-annually. How much will ABC have in the account after five years if interest is reinvested?

a. $67,196.

b. $50,000.

c. $65,000.

d. $66,912.

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Accounting Basics: Account after five years if interest is reinvested

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Accounting Basics: Account after five years if interest is reinvested

Reference No:- TGS060956

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Accounting Basics: Account after five years if interest is reinvested

Reference No:- TGS060956

Recent Questions Asked Accounting Basics

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