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You Are Considering Investing in a Bank Account That Pays

Question 90

Multiple Choice

You are considering investing in a bank account that pays a nominal annual rate of 7%,compounded monthly.If you invest $3,000 at the end of each month,how many months will it take for your account to grow to $200,000?


A) 65.52
B) 52.53
C) 66.65
D) 56.48
E) 61.00

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