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Mr. Nailor invests $5,000 in a money market account at his local bank. He receives annual interest of 8% compounded for four years. How much
Mr. Nailor invests $5,000 in a money market account at his local bank. He receives annual interest of 8% compounded for four years. How much total return will his investment earn during this time period?
A. $3,675
B. $1,800
C. $6,254
D. $8,570
(please include inputs for using TVM calculator including present value, payments, future value, annual rate %, and periods)
thank you
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