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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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