Question: On January 1 , 2 0 2 4 , ABC Corp. invests $ 2 5 0 , 0 0 0 in a 5 year certificate

On January 1,2024, ABC Corp. invests $250,000 in a 5 year certificate of deposit ("CD") that pays 16% interest compounded quarterly. How much will ABC Corp's investment be worth at the end of the CD term. Use the appropriate future value factor table(s) to answer the question and round the answer to the nearest dollar.
A. $547,780
B. $468,165
C. $3,397,500
D. $525,210
E. $250,000

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