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Assume That $1,500 Is Deposited in an Account in Which

Question 98

Multiple Choice

Assume that $1,500 is deposited in an account in which interest is compounded 8 times a year, at an annual rate of 5%.Find the accumulated amount after 12 years.Round your answer to the nearest cent.


A) $2,628.08
B) $2,828.08
C) $2,678.08
D) $3,028.08
E) $2,728.08

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