Use This Information to Answer the Following Question A Single Deposit of $3,500 Made at the Beginning of

Use this information to answer the following question. $\begin{array}{|c|c|c|}\hline \text { Periods } & \text { Future Value of } \$ 1 \text { at } 12 \text { Percent } & \begin{array}{c}\text { Future Value of Ordinary Annuity of } \$ 1 \\\text { at } 12 \text { Percent }\end{array} \\\hline 1 & 1.120 & 1.000 \\\hline 2 & 1.254 & 2.120 \\\hline 3 & 1.405 & 3.374 \\\hline\end{array}$ A single deposit of $3,500 made at the beginning of period 1 would grow to how much at the end of three years?

A) $3,920.00
B) $4,917.50
C) $4,389.00
D) $11,809.00

Correct Answer:

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