If You Deposit $1,000 in an Account That Compounds Quarterly

question 15

Multiple Choice

If you deposit $1,000 in an account that compounds quarterly at 8 percent interest,the interest earned on your account at the end of 5 years will be

• A)$104.10.
• B)$485.90.
• C)$469.30.
• D)$661.00.

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