Multiple Choice
At the end of each quarter, Patti deposits $500 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in three years?
A) $7,096.
B) $7,013.
C) $7,129.
D) $8,880.FVA = $500 x 14.1920* = $7,096 *FVA of $1: n=12; i=3%
Correct Answer:
Verified
Correct Answer:
Verified
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