Multiple Choice
Paul Springer plans to save for a down payment for a house in 10 years. He will be able to invest $12,000 today in a money market account that will pay him an interest of 5.50 percent on a monthly basis. How much will he have at the end of 10 years?
A) $12,640
B) $20,773
C) $24,859
D) $23,080
Correct Answer:
Verified
Correct Answer:
Verified
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