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If $500 is invested at an annual interest rate of 8% per year, its future worth at the end of 30 years will be most nearly: (A) $1,200 (B) $1,700 (C) $5,031 (D) $15,000

If $500 is invested at an annual interest rate of 8% per year, its future worth at the end of 30 years will be most nearly: (A) $1,200 (B) $1,700 (C) $5,031 (D) $15,000
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If $500 is invested at an annual interest rate of 8% per year, its future worth at the end of 30 years will be most nearly:

(A) $1,200
(B) $1,700
(C) $5,031
(D) $15,000

asked
User Mapache
by
8.3k points

1 Answer

1 vote
The interest over 30 years would be 1,200. Therefore you add that to the 500$ you started with. The answer is B) $1,700.
answered
User Sriram Sridharan
by
8.2k points
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