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6. If you deposit $1,000 now at an interest rate of 12% per year compounded monthly, the amount that will be in the savings account

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6. If you deposit $1,000 now at an interest rate of 12% per year compounded monthly, the amount that will be in the savings account five years from now is closest to: a. $1,600 b. $1,762 C. $1,817 d. $1,905

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