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If You Invest $7,000 at the End of Each Year

Question 44

Multiple Choice

If you invest $7,000 at the end of each year for seven years and you earn 7% interest compounded annually, how much will you have accumulated at the end of the seventh year to the nearest dollar?


A) $10,430
B) $60,578
C) $52,430
D) $49,490

Correct Answer:

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