You Just Deposited $2,500 in a Bank Account That Pays

question 1

Multiple Choice

You just deposited $2,500 in a bank account that pays a 4.0% nominal interest rate,compounded quarterly.If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now,how much will be in the account three years (12 quarters) from now?

• A)$15,234.08
• B)$16,035.87
• C)$16,837.67
• D)$17,679.55
• E)$18,563.53

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Definitions:

Quality Distribution

The dispersion or spread of quality levels found within a group of items or services.

Appraiser

A professional who assesses and determines the monetary value of properties, goods, or art pieces.

Used Cars

Pre-owned vehicles that have been sold or transferred to a new owner after being used by a previous owner.

Quality Distribution

The variation in quality levels among goods or services within a category, often affecting consumer choice and market dynamics.