Multiple Choice
Merlin is saving money to purchase a new car. If he deposits $5,000 into a saving account that pays 8% interest, compounded semi-annually, how much will he have in his account at the end of the first year?
A) $5,400.00
B) $5,200.00
C) $5,408.00
D) $5,008.00
Correct Answer:
Verified
Correct Answer:
Verified
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