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Use the Ordinary Annuity Formula to Determine the Accumulated Amount

Question 184

Multiple Choice

Use the ordinary annuity formula to determine the accumulated amount in the annuity. Round the answer to the nearest cent.
-$5000 is invested annually for 9 years at 4.6% compounded annually


A) $54,232.95
B) $53,732.95
C) $53,232.95
D) $55,232.95

Correct Answer:

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