Suppose an investor deposits $2,500 in an interest-bearing account at her local bank. the account pays 2.5% interest compounded annually. if the investor plans on withdrawing the original principal plus accumulated interest at the end of seven years, what is the total amount that she should expect to receive assuming interest rates do not change?
a.$3,532.43
b.$2,971.71
c.$2,974.89
d.$11,920.93
Answers: 1
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