Suppose $500 Is Initially Placed in a Savings Account That

question 41

Multiple Choice

Suppose $500 is initially placed in a savings account that earns interest at the rate of 8% compounded semiannually.Thereafter,$500 is deposited in the account at the end of every six months for five years.The value of the account at the end of five years is

• A) $4055.45.
• B) $4555.45.
• C) $6003.05.
• D) $6743.18.
• E) $6799.78.

---

Definitions:

Transparency

The practice of being open, honest, and straightforward about various aspects of a company's operations, policies, and decisions.

Social Commerce

The use of social media platforms to promote and sell products and services directly within the social media experience.

Reciprocity

A principle or practice of mutual exchange, where actions or benefits are returned in kind, often as part of social or economic interactions.