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What is the interest on interest after five years

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Reference no: EM132820571

Question - David wants to invest $6,000 in an account paying 6 percent compounded quarterly. What is the interest on interest after five years? Pick the closest answer.

a. $8,081.13

b. $2,081.13

c. $1,800.00

d. $450.00

e. $281.13

Reference no: EM132820571

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