Question

You have been depositing money at the end of each year into an account drawing 8% interest. What is the balance in the account at the end of year four if you deposited the following amounts?
Year End of Year Deposit
1 $350
2 $500
3 $725
4 $400

A) $1,622
B) $2,207
C) $2,384
D) $2,687

Answer

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