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You Make Quarterly Deposits of $500

Question 6

Multiple Choice

You make quarterly deposits of $500.The first 12 deposits earn j4 = 6%.Immediately after the 12th deposit,the interest rate changes to j4 = 4%.How much have you accumulated immediately after the 20th deposit?


A) $11,561.83
B) $11,488.25
C) $11,203.72
D) $10,663.44

Correct Answer:

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