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Zachary Invested $4000 into an Account with an Interest Rate

Question 40

Multiple Choice

Zachary invested $4000 into an account with an interest rate of 5.3% each year compounded monthly. How much money will be in the account after 1 month (rounded to the nearest hundredth) ?


A) $322432.10
B) $4217.23
C) $4212.00
D) $4017.67
E) $4435.24

Correct Answer:

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