Norton Company Has a 12% Compound Annual Interest Rate

question 21

Multiple Choice

Norton Company has a 12% compound annual interest rate. If the firm invests $60,000 today, how much will have accumulated by the end of eight years?

• A) $117,600.
• B) $148,560.
• C) $298,080.
• D) $738,000.
• E) None of the other answers are correct.

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