Multiple Choice
You have to make a balloon payment on your house five years from now of $15,000. If money can earn an average of 6 percent a year for the five -year period, how much interest will you earn on your deposit in five years?
A) $3,791.13
B) $3,807.00
C) $5,073.00
D) $5,101.50
Correct Answer:
Verified
Correct Answer:
Verified
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