If Cathy Deposits $12,000 into a Bank Account That Pays

question 45

Multiple Choice

If Cathy deposits $12,000 into a bank account that pays 6% interest compounded quarterly,what will the account balance be in seven years?

• A) 18,001
• B) 18,207
• C) 19,112
• D) 19,344

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Definitions:

Factory Depreciation

The systematic allocation of the cost of a manufacturing plant over its useful life.

Advertising Budget

The financial allocation set aside by a business for promoting its products or brand.

Sales Budget

An estimate of the sales revenue a company aims to achieve in a certain period.