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Use the Ordinary Annuity Formula to Determine the Accumulated Amount

Question 109

Multiple Choice

Use the ordinary annuity formula to determine the accumulated amount in the annuity. Round the answer to the nearest cent.
-$150 is invested quarterly for 8 years at 8% compounded quarterly


A) $7034.07
B) $7334.17
C) $6634.05
D) $12,634.18

Correct Answer:

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