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Derek Contributed $200 Per Month for Twenty Years at an Interest

Question 185

Multiple Choice

Derek contributed $200 per month for twenty years at an interest rate of 3.9% compounded semi-annually. Determine how much interest was earned over the twenty year period.


A) $24,282.30
B) $25,282.30
C) $26,282.30
D) $27,282.30
E) $28,282.30

Correct Answer:

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