Assume That $1,500 Is Deposited in an Account in Which

question 98

Multiple Choice

Assume that $1,500 is deposited in an account in which interest is compounded 8 times a year, at an annual rate of 5%.Find the accumulated amount after 12 years.Round your answer to the nearest cent.

• A)$2,628.08
• B)$2,828.08
• C)$2,678.08
• D)$3,028.08
• E)$2,728.08

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Definitions:

Evolutionarily Advantageous

Traits or behaviors that increase an organism's chances of survival and reproduction in a particular environment.

Dominance Structuring

The organization or arrangement of elements in a system, group, or interaction according to their level of power or control.

Promising Option

A choice or decision that shows potential to yield beneficial results based on preliminary evidence or analysis.

Dominant Option

A choice or alternative considered superior or more advantageous compared to others in a decision-making scenario.