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Ishvar Patel Is Going to Make 5 Annual Deposits of $4,500

Question 29

Multiple Choice

Ishvar Patel is going to make 5 annual deposits of $4,500 each into a savings account beginning on July 1,2010.Assuming an interest rate of 6%,on July 1,2014,Ishvar's bank account will have a balance of:


A) $28,521.90
B) $30,608.55
C) $18,955.80
D) $25,366.92

Correct Answer:

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