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An investor's retirement account pays an annual nominal interest rate of 4.2%, convertible monthly. On January 1 of year y, the investor's account balance was
An investor's retirement account pays an annual nominal interest rate of 4.2%, convertible monthly.
On January 1 of year y, the investor's account balance was X. The investor then deposited 100 at the end of every quarter. On May 1 of year (y + 10), the account balance was 1.9X.
Determine which of the following is an equation of value that can be used to solve for X.
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