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Portland Company wants to invest $1,000 on 1/1/15. The investment will earn 12% compounded semi-annually. What will be the approximate investment amount at 12/31/17?

Portland Company wants to invest $1,000 on 1/1/15. The investment will earn 12% compounded semi-annually. What will be the approximate investment amount at 12/31/17? Select one: O a. $1,340 O b. $1,611 OC $1,419 O d. $1,191 O e. $1,405

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