35. Which of the following is the correct way to compute the future value of $100 put into an account that earns 4 percent interest for 10 years? a. $100(1 + .0410) b. $100(1 + .04 × 10) c. $100 × 10 × (1 + .04) d. $100(1 + .04)10 Group of answer choices c b d a

35. Which of the following is the correct way to compute the future value of $100 put into an account that earns 4 percent interest for 10 years? a. $100(1 + .0410) b. $100(1 + .04 × 10) c. $100 × 10 × (1 + .04) d. $100(1 + .04)10 Group of answer choices c b d a

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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Question

35.

Which of the following is the correct way to compute the future value of $100 put into an account that earns 4 percent interest for 10 years?

	a.	$100(1 + .04¹⁰)
	b.	$100(1 + .04 × 10)
	c.	$100 × 10 × (1 + .04)
	d.	$100(1 + .04)¹⁰

Group of answer choices

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