Which of the following formulas represents the future value of $500 invested at 8% - 3100

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Which of the following formulas represents the future value of $500 invested at 8% compounded quarterly for five years?
a. 500(1+.08)5
b. 500(1+.08)20
c. 500(1+.02)5
d. 500(1+.02)20

Solution Description

Which of the following formulas represents the future value of $500 invested at 8% co