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You Decide to Deposit $5,000 at a Local Bank for Three

Question 16

Multiple Choice

You decide to deposit $5,000 at a local bank for three years at a 8% rate of interest compounded quarterly.The future value of your investment is most nearly equal to ________.


A) $6,200
B) $6,340
C) $6,430
D) $6,800

Correct Answer:

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