If $1,200 Is Invested for X Years at an Annual

question 39

Multiple Choice

If $1,200 is invested for x years at an annual rate of 7%, compounded quarterly, the future value that will result is ​ ​
Determine the value of the investment after 8 years. Round your answer to two decimal places, if necessary.
​

• A) $5,229.16
• B) $10,458.32
• C) $2,061.82
• D) $9,258.32
• E) $672

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