ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fong wants to restore a ‘66 Mustang in 8 years. He puts $15000 into an account every month that pays 3.5% interest, compounded monthly. How much is in the account in 8 years?
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$19, 838.90
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$10, 496.77
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$76, 108.90
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$71, 984.01
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Explanation:
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