Assume That $250 Is Deposited at the End of Each

question 16

Multiple Choice

Assume that $250 is deposited at the end of each period in an account in which interest is compounded at the frequency k = 3, at an annual rate of 6%.Find the accumulated amount after 8 years.Round to the
Nearest cent.

• A)$7,626.77
• B)$7,580.90
• C)$7,605.47
• D)$7,556.32
• E)$7,591.32

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