Gerry deposits $2000 at the end of every 3-month period in a fund earning interest at j2 = 8%.If the fund pays simple interest for the fractional part of any interest period,what is the accumulated value of Gerry's deposits at the end of 5 years?
A) $48,984.91
B) $48,504.67
C) $48,499.97
D) $48,024.42
Correct Answer:
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