Multiple Choice
Use the ordinary annuity formula to determine the accumulated amount in the annuity. Round the answer to the nearest cent.
-$1000 invested annually for 12 years at 5% interest compounded annually
A) $3420.68
B) $35,917.13
C) $15,917.13
D) $14,206.79
Correct Answer:
Verified
Correct Answer:
Verified
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