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At the Birth of Their Child, the Fieldsons Deposited $3000

Question 278

Multiple Choice

At the birth of their child, the Fieldsons deposited $3000 in an account paying 5% interest, compounded quarterly.How much will be available when the child turns 11?


A) $5,282.60
B) $5,081.52
C) $5,182.06
D) $5,482.46
E) $2,591.03

Correct Answer:

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