Which of the Following Amounts Is Closest to the End

question 4

Multiple Choice

Which of the following amounts is closest to the end value of investing $7,500 for 2 1/2 years at an effective annual interest rate of 12.36%. Interest is compounded semiannually.

• A) $7,531.
• B) $8,427.
• C) $9,818.
• D) $9,469.
• E) $10,037.

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Definitions:

Federalists

A political group in the early United States advocating for a strong federal government and the ratification of the Constitution.

New England Merchant

Refers to businessmen in the early American colonial period based in the New England region who were involved in trade and commerce, often engaged in shipping goods across the Atlantic.

Urban Artisan

A skilled worker or craftsman who lives and works in an urban area, often producing handmade goods or providing specialized services.

Assumption of State Debts

A financial policy where the federal government assumes the debts incurred by the states, often to standardize and stabilize the national economy.