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16. If we have $150 today and can invest at 4% per year, how many months (monthly compounding) do we need to invest in order

16. If we have $150 today and can invest at 4% per year, how many months (monthly compounding) do we need to invest in order to have $240 in the bank at the end?

A. 124.3

B. 113.0

C. 122.9

D. None of the above

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