Multiple Compounding Periods (FV): Carlyn Botti Wants to Invest $3,500

question 90

Multiple Choice

Multiple compounding periods (FV) : Carlyn Botti wants to invest $3,500 today in a money market fund that pays quarterly interest at 5.5 percent. She plans to fund a scholarship with the proceeds at her alma mater, Towson University. How much will Carlyn have at the end of seven years? (Round to the nearest dollar.)

• A) $5,091
• B) $3,548
• C) $5,130
• D) $5,075

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Definitions:

Fingertips

The extreme ends or tips of the fingers, sensitive to touch and important for fine motor skills.

Laceration

A deep cut or tear in the skin or flesh, often requiring medical treatment to prevent infection or further injury.

Body Tissue

Groups of cells that perform a similar function in the body, such as muscles, nerves, and epithelium.