If You Put $200 in a Savings Account at the Beginning

question 109

Multiple Choice

If you put $200 in a savings account at the beginning of each year for 10 years and then allow the account to compound for an additional 10 years,how much will be in the account at the end of the 20th year? Assume that the account earns 10%,and round to the nearest $10.

• A)$8,300
• B)$9,100
• C)$8,900
• D)$9,700

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