Gary Deposits The Following Amounts In A Savings Plan Which Pays 8 4 Per Annum C

1.Gary deposits the following amounts in a savings plan which pays 8.4% per annum, compounded monthly: • $1,500 today, • $2,500 at the end of year two and • $5,000 at the end of year three. The amount he will have in exactly three years is closest to:

Select one:

A. $9,621

B. $10,429

C. $8,187

D. $9,646

2.

 

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