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Use the Compound Interest Formula to Compute the Future Value

Question 121

Multiple Choice

Use the compound interest formula to compute the future value of the investment.
-$3250 at 5.5% compounded daily for 15 years (assume 360 days per year)


A) $3257.46
B) $4079.97
C) $7255.55
D) $7415.65

Correct Answer:

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