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If You Invest $2,000 at the End of Each Year

Question 49

Multiple Choice

If you invest $2,000 at the end of each year for five years and you earn 7% interest compounded annually, how much will you have accumulated at the end of the fifth year?


A) $10,700
B) $11,501
C) $12,307
D) $14,026

Correct Answer:

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