Author Question: If you want to have 12,500 in 57 months, how much money must you put in a savings account today? ... (Read 56 times)

PhilipSeeMore · **on:** Jul 11, 2018

If you want to have 12,500 in 57 months, how much money must you put in a savings account
today? Assume that the savings account pays 4.5 and it is compounded quarterly; round to
nearest 1.

A) 10,387 B) 8,459 C) 11,129 D) 10,106

Question 2

Effective budgeting in an expense area will lead to a zero variance at year end.

Indicate whether the statement is true or false