Your Department at Work Places $10,000 Every Year-End into an Account

question 38

Multiple Choice

Your department at work places $10,000 every year-end into an account earning 5%.The money is used when the corporate office fails to fully finance your profitable projects.The money has not been touched since the first deposit was made exactly five years ago.If the most recent deposit was made today,how much money is currently in the account?

• A)$55,256.31
• B)$60,000.00
• C)$65,256.31
• D)$68,019.13