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If $5,000 Is Invested in an Account with 7% Interest

question 40

Multiple Choice

If $5,000 is invested in an account with 7% interest compounding yearly, what will the balance of the account be after 3 years? Please refer to the following Future Value table: If $5,000 is invested in an account with 7% interest compounding yearly, what will the balance of the account be after 3 years? Please refer to the following Future Value table:   A) $6,180 B) $6,211 C) $5,867 D) $6,125


Definitions:

Articles of Confederation

The first governing document of the United States, created before the Constitution, which provided a loose federation of the states with limited central government power.

Ratified

The process by which a proposed treaty or agreement is officially approved and adopted by the necessary parties or institutions.

States

Distinct territorial and political entities within a federal system, each with its own government and a degree of autonomy.

Government-less State

A hypothetical or theoretical situation where society operates without a formal government, often associated with anarchism or extreme libertarian views.

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