Multiple Choice
If $21,000 is invested in a savings account yielding 5.5% per year, compounded semiannually, how fast is the balance growing after 3 years?
A) $1,676.02 per year
B) $1,877.14 per year
C) $938.57 per year
D) $1,340.81 per year
E) $2,413.47 per year
Correct Answer:
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