Multiple Choice
Solve the problem. When needed, use 365 days per year and 30 days per month.
-An initial investment of $12,000 is appreciated for 5 years in an account that earns 4% interest, compounded quarterly. Find the amount of money in the account at the end of the period.
A) $14,599.83
B) $2642.28
C) $14,642.28
D) $14,497.31
Correct Answer:
Verified
Correct Answer:
Verified
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