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A lump sum deposit of $10,000 left in the bank for 1 year at 9% compounded monthly will result in an ending balance of (select

A lump sum deposit of $10,000 left in the bank for 1 year at 9% compounded monthly will result in an ending balance of (select the closest answer)

a.

$8,270.

b.

$8,520.

c.

$8,720.

d.

$10,090

e.

$10,938

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