Question

What amount of cash would result at the end of one year, if $15,000 is invested today and the rate of return is 8%

Answer 1

Answer:

Amount of cash at the end of one year is $16,200

Explanation:

Amount invested = $15,000

Rate of return = 8%

Amount at the end of one year = $15,000 + (0.08×$15,000) = $15,000 + $1,200 = $16,200