Multiple Choice
Suppose you deposited $5,000 in a bank account that pays 5.25% with daily compounding based on a 360-day year.How much would be in the account after 8 months, assuming each month has 30 days?
A) $5,178.09
B) $5,436.99
C) $5,708.84
D) $5,994.28
E) $6,294.00
Correct Answer:
Verified
Correct Answer:
Verified
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