If You Deposit $20,000 Today in a Bank Account at a Quoted

question 24

Multiple Choice

If you deposit $20,000 today in a bank account at a quoted rate of 12%, compounded quarterly, how much will be in the account in five years if you make no withdrawals? Round your
Answer to the nearest dollar.

• A)$36,122
• B)$21,020
• C)$35,247
• D)none of the above

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