Multiple Choice
Compounding: Dat Nguyen is depositing $17,500 in an account paying an annual interest rate of 8.25 percent compounded monthly. What is the interest-on-interest after six years?
A) $8,662.50
B) $10,925
C) $2,497.63
D) $1,092.48
Correct Answer:
Verified
Correct Answer:
Verified
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