Multiple Choice
Solve the problem. Round to the nearest cent.
-Bob deposits $5000 at the end of each year in an ordinary annuity paying 3% interest compounded Annually. Find the amount he will have on deposit after 12 years.
A) $64,038.98
B) $70,960.15
C) $78,088.95
D) $65,960.15
Correct Answer:
Verified
Correct Answer:
Verified
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