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You Wish to Make a Substantial Down Payment on a Lake

Question 26

Multiple Choice

You wish to make a substantial down payment on a lake cottage and you currently have $15,725 invested at an annual rate of 2.50%.How much money will be in the account in 3.5 years if it continues to earn at its present rate?


A) $18,325
B) $20,579
C) $17,144
D) $19,605

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