If you deposit $20,000 today in an account at a quoted rate of 16% a year, compounded
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Question:
If you deposit $20,000 today in an account at a quoted rate of 16% a year, compounded semiannually, how much will you have in the account at the end of five years if you make no withdrawals?
42,007
29,386
43,822
none of the above
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