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If $1,000 Per Month Is Invested at 12% Compounded Monthly

Question 122

Multiple Choice

If $1,000 per month is invested at 12% compounded monthly for the first three years and 16% compounded monthly thereafter, what will be the accumulated amount immediately after the 120th investment. The first investment will be made one month from now.


A) $43,076.88
B) $1,602,487.93
C) $284,219.97
D) $230,038.69
E) $292,580.55

Correct Answer:

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