Assume That $300 Is Deposited at the End of Each

question 256

Multiple Choice

Assume that $300 is deposited at the end of each year in an account in which interest is compounded annually at a rate of 9%.Find the accumulated amount after 10 years.Round to the nearest cent.

• A)$4,557.88
• B)$4,857.88
• C)$1,419.29
• D)$3,038.59
• E)$1,519.29

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Definitions:

Dynasty

A line of hereditary rulers of a country or empire; a succession of people from the same family who play a prominent role in business, politics, or another field.

Present Discontents

A reference to current dissatisfaction or unease among a population or within an individual about social, political, or personal circumstances.

Edmund Burke

An Irish statesman and philosopher, often regarded as the father of modern conservatism, known for his support of the American Revolution and critiques of the French Revolution.