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6. To pay for his college education, Joe is saving $1,000 at the beginning of each month for the next five years in a bank

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6. To pay for his college education, Joe is saving $1,000 at the beginning of each month for the next five years in a bank account. If the annual interest rate is 4%, and compounded monthly, how much will Joe have in that account at the end of 5th year? A. $ 64,995 B. $ 66,300 C. S 66.520 D. none of the above; the correct answer is

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