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What Is the Compound Interest Earned on Josef's Principal of $2,750

Question 3

Multiple Choice

What is the compound interest earned on Josef's principal of $2,750 at 8% interest compounded quarterly for 2 years? Round to the nearest cent after each calculation.


A) $327.86
B) $440.00
C) $472.06
D) $620.00

Correct Answer:

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