Solved

What Is the Resulting Balance If $4,500 Is Invested for 5

Question 305

Multiple Choice

What is the resulting balance if $4,500 is invested for 5 years at an annual rate of 7% compounded monthly?

A) $4,632.79
B) $4,687.00
C) $6,075.00
D) $6,379.31
E) $8,258.80

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