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A Sequence of Yearly Payments of $5000 Is Invested at an Interest

Question 202

Multiple Choice

A sequence of yearly payments of $5000 is invested at an interest rate of 1.5%, compounded annually. What is the total amount of the annuity after 10 years?


A) $54,513.61
B) $53,513.61
C) $52,513.61
D) $53,013.61

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