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    Financial Management Principles and Applications Study Set 2
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    Exam 5: Time Value of Money-The Basics
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    If You Place $50 in a Savings Account with an Interest
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If You Place $50 in a Savings Account with an Interest

Question 16

Question 16

Multiple Choice

If you place $50 in a savings account with an interest rate of 7% compounded weekly, what will the investment be worth at the end of five years (round to the nearest dollar) ?


A) $72
B) $70
C) $71
D) $57

Correct Answer:

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