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If Your Bank Pays You Interest in the Form of an Annual

Question 37

Multiple Choice

If your bank pays you interest in the form of an annual rate of return of 10% over each of the next five years,how much will your balance be if you make annual deposits of $400?


A) $2,248.37
B) $2,644.20
C) $2,516.31
D) $2,442.04

Correct Answer:

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