You invest $7,000 into a savings account that pays an annual interest rate of 12.00%.

You invest $7,000 into a savings account that pays an annual interest rate of 12.00%. How much would you have in your account after 12 years?

	A.	$20,549
	B.	$24,010
	C.	$27,272
	D.	$30,343
	E.	$33,231
	F.	$35,942
	G.	$38,483
	H.	$40,861

Solutions

Expert Solution

FV = $7,000 * (1 + 12%)¹²

FV = $7,000 * 3.895976

FV = $27,272

jeff jeffy answered 1 year ago

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