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A Single Deposit of $25,000 Is Made into an Account

Question 87

Multiple Choice

A single deposit of $25,000 is made into an account that earns interest at j4 = 7% for one year,j2 = 6% for the next year and j6 = 3% thereafter.How much interest is earned in the fourth year?


A) $143.93
B) $863.58
C) $889.82
D) $916.85

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