Multiple Choice
You are considering investing in a bank account that pays a nominal annual rate of 6%, compounded monthly. If you invest $5,000 at the END of each month, how many months will it take for your account to grow to $200,000? Round fractional years up.
A) 33
B) 37
C) 41
D) 45
Correct Answer:
Verified
Correct Answer:
Verified
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