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If You Deposit $1,000 in an Account That Earns 5

Question 23

Multiple Choice

If you deposit $1,000 in an account that earns 5% per year (compounded monthly) ,what will the balance in the account be at the end of 5 years?

A) $1,272
B) $1,276
C) $1,280
D) $1,283

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