Solved

If You Leave the Money of $950 in the Account

Question 34

Multiple Choice

If you leave the money of $950 in the account for five years and the account earns 8% compounded annually, what will the balance in the account grow to?


A) $1,341.05
B) $1,347.82
C) $1,395.86
D) $1,406.23
E) $1,491.15

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents