Do I meet the foreign language requirement to graduate college?

It depends on the requirements of the college from which you want to graduate.

It depends on where you go to college. Some have foreign language requirements; others do not.

Most that do will allow you to place out of them, but whether the college you eventually go to will allow you to place out by taking Spanish 5 at your high school is up to them. Most require an AP credit, a CLEP exam, or a placement test. You might place out of one or two semesters.

There's a difference between meeting the requirement and getting credit. In most colleges, you have to take 2 years of a foreign language whether you studied one in high school or not. The $500 gives you actual college credits, which count toward your degree, and take the place of one of the college courses in foreign language. You might get credit for 1 semester and have to take 3 semesters. At some colleges, they will give you a test when you get there, and possibly place you in a higher level class, and maybe give you credit. I know someone who was fluent in Spanish and placed out of the usual first two years. She still have to take 2 courses in Spanish literature.

The only people who can answer that are in the registrar's office or business department at the particular university you plan to attend. As Gypsyfish noted, there is a difference between getting college credits for a class and meeting graduation requirements. Call the university.

You can contact your university to see if you need any foreign language in college. I can’t believe you would for an accounting major.

To apply most universities require you take two years of a foreign language in high school.