If $1,000 is invested today and $1,000 is invested at the beginning of each of the next three years at 12% interest (compounded annually), the amount an investor will have at the end of the fourth year will be closest to: $4,779 $5,353 $6,792
Added by Daniel M.
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Using the formula for compound interest, we get: $1,000 x (1 + 0.12)^4 = $1,573.25 Show more…
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