Business, 18.01.2021 14:00 jass624

Today, you deposit $2,500 of cash in a savings account that earns 8.0% in annualized interest. One interest payment is received at the end of every year. You make no other deposits or withdrawals. In five years, the amount of interest on interest you have earned in your savings account is closest to:

a. $173
b. $175
c. $177
d. $1,000
e. $1,177

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Today, you deposit $2,500 of cash in a savings account that earns 8.0% in annualized interest. One i...

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