What principal will amount to $4500 if invested at 4% quarterly for 5 years? interest compounded a. $3687.95 b. $3903.18 c. $3366.58 d. $3463.04

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What principal will amount to $4500 if invested at 4%
interest compounded quarterly for 5 years?
a. $3687.95
b. $3903.18
c. $3366.58
d. $3463.04
Transcribed Image Text:What principal will amount to $4500 if invested at 4% interest compounded quarterly for 5 years? a. $3687.95 b. $3903.18 c. $3366.58 d. $3463.04
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