Multiple Choice
You deposit $1,000 today and want to save $100 each month beginning one month from today. Your account earns a 5 percent annual interest rate. How long will it take you to accumulate $5,000?
A) 29.3 months
B) 35.7 months
C) 42.6 months
D) 52.1 months
Correct Answer:
Verified
Correct Answer:
Verified
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