Question 37 - Arithmetic Reasoning Practice Test for the ASVAB

You just started a retirement fund by depositing $\$7,000$ in an account. The annual interest rate (compounded yearly) for an account with an “early withdrawal” penalty is $5.75\%$. How much money will you have in your account if you leave it for $2$ years?

\[\$7080.50\]
\[\$7402.50\]
\[\$7500.28\]
\[\$7828.14\]

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