Q. You invest $475 in an account that pays 3% simple interest annually. How much money do you have after five years? answer choices $546.24 $544.46 $543.25 $546.25

Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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Q. You invest $475 in an account that pays 3% simple interest annually. How much money
do you have after five years?
answer choices
$546.24
$544.46
$543.25
$546.25
Transcribed Image Text:Q. You invest $475 in an account that pays 3% simple interest annually. How much money do you have after five years? answer choices $546.24 $544.46 $543.25 $546.25
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