Use the Compound Interest Formula to Compute the Future Value

question 121

Multiple Choice

Use the compound interest formula to compute the future value of the investment.
-$3250 at 5.5% compounded daily for 15 years (assume 360 days per year)

• A)$3257.46
• B)$4079.97
• C)$7255.55
• D)$7415.65

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