You Have Deposited $1,500 in an Account That Promises to Pay

question 70

Multiple Choice

You have deposited $1,500 in an account that promises to pay 8% compounded quarterly for the next five years.How much will you have in the account at the end?

• A)$1,598.33
• B)$2,203.99
• C)$2,228.92
• D)$6,991.44
• E)None of the above.

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Definitions:

Notice To Quit

A written notification from a landlord to a tenant to leave the premises by a specified date.

Continues Business

Continuation of company operations without interruption or cessation.

Dissociation

The process by which a member's involvement in an entity is terminated, typically in the context of a partnership or limited liability company.

Capital Contribution

Capital contribution refers to the funds, assets, or other resources a partner or shareholder provides to a partnership or corporation to support its operations or increase its equity.