If $13,000 Is Deposited in a Savings Account at the End

question 55

Multiple Choice

If $13,000 is deposited in a savings account at the end of each year and the account pays interest of 5% compound annually, what will be the balance of the account at the end of 10 years?

• A) $13,650
• B) $211,757
• C) $163,512
• D) $136,500

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