$70,000 is put in an investment account today. The investment account compounds interest at a rate of 2% per month. What amount will be available five years from today? Use the formula method. (Do not round any intermediary calculations, and round your final answer to the nearest dollar.)

Group of answer choices

$104,016

$154,000

$85,330

$229,672

2)

________ preferred stock contains a provision that stipulates that, if the board of directors do not declare a dividend, the dividends to preferred accumulate.

Group of answer choices

Convertible

Callable

Mandatorily redeemable

Cumulative