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What will the balance of the account be after six years

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If $10,000 is invested annually in an account with 7% interest compounded yearly, what will the balance of the account be after six years? Refer to the following Future Value table:

Future value of annuity of$1:

5%

6%

7%

8%

1

1

1

1

1

2

2.05

2.06

2.07

2.08

3

3.153

3.184

3.215

3.246

4

4.31

4.375

4.44

4.506

5

5.526

5.637

5.751

5.867

6

6.802

6.975

7.153

7.336

7

8.142

8.394

8.654

8.923

A. $71,530
B. $18,020
C. $79,050
D. $83,290

Reference no: EM131786823

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