14
QuizMultiple Choice

Interest

Question 14 • FT GMS AMDM B IC – 72

Solve the problem. Round to the nearest cent.Stan’s savings account has a balance of $1986. After 23 years, what will the amount of interest be at 4% compounded annually?

Answer
A
$2908.93
B
$2899.93
C
$2913.93
D
$794.40
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