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2. Suppose you set up a new IRA (individual retirement account) that pays an APR of 7.2%, compounded monthly If you contribute $160 at the

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2. Suppose you set up a new IRA (individual retirement account) that pays an APR of 7.2%, compounded monthly If you contribute $160 at the end of each month for 15 years, how much will the IRA contain at the end of that time? (a) $51,600.17 (b) $52,100.19 (c) $52,817.56 (d) $51,605.12

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