Find the Compound Interest Earned

question 28

Multiple Choice

Find the compound interest earned. Round to the nearest cent.
-$14,000 at 5% compounded annually for 3 years

• A) $2100.00
• B) $1435.00
• C) $701.50
• D) $2206.75

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Definitions:

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value over time.