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If $6,000 Is Invested at an Annual Rate of 9

Question 88

Multiple Choice

If $6,000 is invested at an annual rate of 9% per year compounded monthly, the future value S at any time t (in months) is given by If $6,000 is invested at an annual rate of 9% per year compounded monthly, the future value S at any time t (in months) is given by . What is the amount after 1 year? Round your answer to the nearest cent. ​ A) $6,480.00 B) $17,668.08 C) $6,565.05 D) $6,045.00 E) $6,562.84 . What is the amount after 1 year? Round your answer to the nearest cent. ​


A) $6,480.00
B) $17,668.08
C) $6,565.05
D) $6,045.00
E) $6,562.84

Correct Answer:

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