You Deposit $5,000 Today in an Account Drawing 12% Compounded

question 45

Multiple Choice

You deposit $5,000 today in an account drawing 12% compounded quarterly. How much will you have in the account at the end of 2 1/2 years?

• A) $7,401
• B) $5,523
• C) $7,128
• D) $6,720

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Definitions:

Resellers

Businesses or individuals that purchase goods from manufacturers or wholesalers to sell them to the end consumer, often adding value through services or support.

Personal Selling

A form of direct marketing involving face-to-face interaction between a salesperson and a potential buyer to close a sale.

Order Taking

The process of recording or receiving orders for goods or services from customers.

Order Getting

The process of securing purchase orders from customers, often involving direct personal selling and negotiation.