You Have Deposited $1,500 in an Account That Promises to Pay

question 45

Multiple Choice

You have deposited $1,500 in an account that promises to pay 8% compounded quarterly for the next five years. How much will you have in the account at the end?

• A) $1,598.33
• B) $2,228.92
• C) $2,203.99
• D) $6,991.44

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Definitions:

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