Assume That $1,100 Is Deposited in an Account in Which

question 180

Multiple Choice

Assume that $1,100 is deposited in an account in which interest is compounded annually at a rate of 5%.Find the accumulated amount after 2 years rounded to the nearest cent.

• A)$1,312.75
• B)$1,612.75
• C)$1,212.75
• D)$1,162.75
• E)$1,112.75

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