5 Find the Value of an Annuity

question 296

Multiple Choice

5 Find the Value of an Annuity
Solve the problem. Round to the nearest dollar if needed.
-Geraldo deposits $100 each month into an account paying annual interest of 5.5% compounded monthly. How much will his account have in it at the end of 9 years?

• A)$13,934
• B)$1126
• C)$13,780
• D)$14,063

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