Suppose You Put $100 into a Savings Account Today, the Account

question 106

Multiple Choice

Suppose you put $100 into a savings account today, the account pays 8% compounded semiannually, and you withdraw $50 one year after your initial deposit. What would your ending balance be 20 years after the initial $100 deposit was made, assuming that you make no additional deposits?

• A)$250.31
• B)$257.45
• C)$258.16
• D)$430.10
• E)$480.10

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