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9 . Joe Ferro's uncle is going to give him $ 2 5 0 a month for the next two years starting today for a

9 .

Joe Ferro's uncle is going to give him $

250

a month for the next two years starting today for a total of

24

payments. If Joe deposits every payment in an account paying a nominal annual interest rate of

6 %

compounded monthly, how much will he have at the end of three years?

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