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If $600 Is Invested At 4%4 \% Interest, Compounded Annually, Then After N Years the Investment Is

Question 59

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If $600 is invested at 4%4 \% interest, compounded annually, then after n years the investment is worth an=600(1.04) na _ { n } = 600 ( 1.04 ) ^ { n } dollars. Find the size of investment after 7 years.


A) $430.21
B) $1,860.81
C) $1,230.81
D) $789.56
E) $1,321.06

Correct Answer:

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