Suppose There Is No Inflation,and the Current Interest Rate Is

question 15

Multiple Choice

Suppose there is no inflation,and the current interest rate is 5% per year.Sarah plans to open a savings account and deposit $100 annually for the next 14 years.At the end of the period,the balance of her savings account will be

• A) 100(1.05¹⁴ - 1).
• B) 2000(1.05¹⁴ - 1).
• C) 2000(1.05¹² - 1).
• D) 20(1.05¹² - 1).

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