Assume that $500 is deposited at the end of each year in an account in which interest is compounded annually at a rate of 7%.Find the accumulated amount after 5 years.Round to the nearest cent.
A)$2,897.07
B)$2,882.17
C)$2,864.87
D)$2,888.97
E)$2,875.37

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The Answer of Assume that $500 is deposited at the end of each year in an account in which interest is compounded annually at a rate of 7%.Find the accumulated amount after 5 years.Round to the nearest cent.
A)$2,897.07
B)$2,882.17
C)$2,864.87
D)$2,888.97
E)$2,875.37

Assume That $500 Is Deposited at the End of Each