You Are Saving Money for the Down Payment on a House.If

question 8

Multiple Choice

You are saving money for the down payment on a house.If you can save $7,500 per year for the next five years at an interest rate of 8%,how much will you have saved at the end of five years?

• A)$40,500
• B)$37,500
• C)$44,000
• D)$29,945
• E)$93,750

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