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Dario Invested a Lump Sum of $20,000 and Began to Invest

Question 30

Multiple Choice

Dario invested a lump sum of $20,000 and began to invest $75 per quarter for 5 years. If interest is 7% compounded monthly, determine the total amount of interest earned over a 5 year period.


A) $7,067.66
B) $7,659.12
C) $7,908.45
D) $8,161.08
E) $8,631.93

Correct Answer:

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