Multiple Choice
Suppose you deposited $8,000 in a bank account that pays 5.25% with daily compounding based on a 360-day year.How much would be in the account after 8 months,assuming each month has 30 days?
A) $6,462.25
B) $7,870.69
C) $8,284.94
D) $7,704.99
E) $8,119.24
Correct Answer:
Verified
Correct Answer:
Verified
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