You Make 4 Semi-Annual Deposits Starting at $350 and Increasing

question 69

Multiple Choice

You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. The interest rate is 5.12% compounded annually. How much has been deposited in total?

• A) $1445.59
• B) $1454.59
• C) $1400.00
• D) $1459.59
• E) $1444.59

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