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1. If $1000 is placed in an account that earns a nominal 4 percent, compounded quarterly, what will it be worth in 5 years? A.

1. If $1000 is placed in an account that earns a nominal 4 percent, compounded quarterly, what will it be worth in 5 years?

A.

$1166.40

B.

$1081.60

C.

$1123.60

D.

$1220.19

E.

$1348.48

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