Bradley Snapp has deposited £7,000 in a guaranteed investment account with a promised rate of 6% compounded annually.He plans to leave it there for 4 full years when he will make a down payment on a car after graduation.How much of a down payment will he be able to make?
A) £1,960.00
B) £2,175.57
C) £8,960.00
D) £8,837.34
E) £9,175.57
Correct Answer:
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