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Compounding: Joachim Noah Is Investing $5,000 in an Account Paying

Question 60

Multiple Choice

Compounding: Joachim Noah is investing $5,000 in an account paying 6.75 percent annually for three years. What is the interest-on-interest if interest is compounded?


A) $1,012.50
B) $1,082.38
C) $82.38
D) $69.88

Correct Answer:

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