Multiple Choice
Use the compound interest formula for compounding more than once a year to determine the accumulated balance afterthe stated period.
-$2500 deposit at an APR of 4% with monthly compounding for 6 years
A) $2550.42
B) $2541.48
C) $14,046.64
D) $3176.85
Correct Answer:
Verified
Correct Answer:
Verified
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