Find the Compound Amount for the Deposit

question 36

Multiple Choice

Find the compound amount for the deposit. Round to the nearest cent.
-$600 at 8% compounded quarterly for 5 years

• A) $840.00
• B) $881.60
• C) $662.45
• D) $891.57

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Definitions:

Covenant of Title

A guarantee in a deed to real property that the grantor has the legal right to transfer ownership.

Quiet Enjoyment

A tenant's right to occupy and use property without interference from the landlord or others with superior title.

Warranty Deed

A deed that guarantees clear title to the property and the right to sell it, providing protection to the buyer against any future claims to the property.

Dodd-Frank Act

A comprehensive and complex piece of financial reform legislation passed in 2010 in the United States, aimed at preventing future financial crises by improving accountability and transparency in the financial system.