Question: Use the following information to answer question 6 - 8. A Max, Inc. deposited $2,000 in a bank account that pays 12% interest annually. What

 Use the following information to answer question 6 - 8. A

Use the following information to answer question 6 - 8. A Max, Inc. deposited $2,000 in a bank account that pays 12% interest annually. What will the dollar amount be in four years, assuming that interest is paid annually? A) $3,224 B) S3, 100 C) $3,111 D) $3,148 What will the dollar amount be if the interest is compounded semiannually for those four years? A) $3,100 B) $3,188 C) $3,240 D) $3,290 How many periods would it take for the deposit to grow to $6,798 if the interest is compounded semiannually? A) 17 B) 19 C) 21 D) 25

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