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You Have Deposited $1,500 in an Account That Promises to Pay

Question 45

Multiple Choice

You have deposited $1,500 in an account that promises to pay 8% compounded quarterly for the next five years. How much will you have in the account at the end?


A) $1,598.33
B) $2,228.92
C) $2,203.99
D) $6,991.44

Correct Answer:

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