A Lump Sum Deposit of $8,000 Left in the Bank

question 51

Multiple Choice

A lump sum deposit of $8,000 left in the bank for 12 years at 9% compounded annually will result in an ending balance of (select the closest answer)

• A)$11,600.
• B)$16,640.
• C)$22,500.
• D)$52,938.
• E)$96,000.

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