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A Deposit of $800 Is Made Each Month in an Account

Question 67

Multiple Choice

A deposit of $800 is made each month in an account that earns 8.4% interest,compounded monthly.The balance in the account after n months is given by A deposit of $800 is made each month in an account that earns 8.4% interest,compounded monthly.The balance in the account after n months is given by Find the balance after 20 years by computing the 240th term of the sequence.Round your answer to two decimal places. ​ A) $696,946.54 B) $1,018,546.54 C) $24,073.84 D) $343,954.07 E) $1,125.60 Find the balance after 20 years by computing the 240th term of the sequence.Round your answer to two decimal places. ​


A) $696,946.54
B) $1,018,546.54
C) $24,073.84
D) $343,954.07
E) $1,125.60

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