Adam Plans to Invest $1500 Today in a Mutual Fund

question 53

Multiple Choice

Adam plans to invest $1500 today in a mutual fund. If he earns 12 percent interest compounded monthly, to what amount will his investment grow in 20 years?

• A)$17,289
• B)$15,897
• C)$16,339
• D)$12,450
• E)$18,546

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