Multiple Choice
Solve the problem. When needed, use 365 days per year and 30 days per month.
-An initial investment of $1000 is appreciated for 5 years in an account that earns 12% interest, compounded semiannually. Find the amount of money in the account at the end of the period.
A) $1762.34
B) $790.85
C) $1689.48
D) $1790.85
Correct Answer:
Verified
Correct Answer:
Verified
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