Solved

If $7,000 Is Deposited in an Account Paying 5% Compounded

Question 16

Multiple Choice

If $7,000 is deposited in an account paying 5% compounded quarterly, then what amount will be in the account after 5 years?


A) $9,122.26
B) $6,998.26
C) $8,974.26
D) $18,573.08

Correct Answer:

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