Robert invests $650 in a savings account at the beginning of each of the next seven years. If his opportunity cost rate is 5 percent compounded annually, how much will his investment be worth after the last annuity payment is made? Use a financial calculator to determine the amount.?

A. $5,048?
B. ?$5,325
C. ?$5,557
D. ?$6,058
E. $6,656


Answer: C

Business

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A. $91,200 B. $5,700 C. $12,500 D. $114,100

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What will be an ideal response?

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