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How much will Cathy have at the end of the eight years

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Question - Cathy wants to invest $5,500 today in a money market fund that pays quarterly interest at 4.5 percent. She plans to fund a scholarship with the proceeds at her alma mater, Sam Houston State University. How much will Cathy have at the end of the eight years?

a. $5,091

b. $7,867

c. $5,130

d. $3,851

e. $5,075

Reference no: EM132832190

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