Use the Data in Table 3

question 85

Multiple Choice

Use the data in table 3.1 to answer the following question(s) :
Table 3.1
-Refer to Table 3.1 above. How much will you have if you deposit $1,000 today in an account paying 7% and you leave it on deposit for 5 years?

• A) $1,403
• B) $713
• C) $5,751
• D) $4,100

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Definitions:

Physical Count

The process of counting inventory by hand to verify the quantities on hand, typically performed at the end of an accounting period to ensure accurate inventory records.