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You Are Considering Investing in a Bank Account That Pays

Question 102

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 $205,000?


A) 66.91
B) 68.64
C) 49.60
D) 57.68
E) 65.18

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