Multiple Choice
If a lump-sum deposit of $8,000 is left in a bank for 12 years at 9%, compounded annually, what will the ending balance be? (Round the answer to the nearest dollar.)
A) $11,600
B) $16,640
C) $22,501
D) $52,938
E) $96,000
Correct Answer:
Verified
Correct Answer:
Verified
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