$500 Is Deposited at the End of Every Three Months

question 22

Multiple Choice

$500 is deposited at the end of every three months into an account crediting interest at j₂ = 10%.The fund credits simple interest for fractional parts of an interest period.What is the accumulated value of the fund at the end of 3 years?

• A)$6885.90
• B)$3191.91
• C)$6886.94
• D)$3400.96

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