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An Initial Investment of $12,000 Is Invested for 2 Years

Question 27

Multiple Choice

An initial investment of $12,000 is invested for 2 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) $994.28
B) $12,865.62
C) $12,994.28
D) $12,979.20

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