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Donna deposits $250 per month to a 401-K account that pays interest at 10.8 percent interest compounded monthly. Deposits are made end of every month.
Donna deposits $250 per month to a 401-K account that pays interest at 10.8 percent interest compounded monthly. Deposits are made end of every month. Her employer matches the deposit at 100 percent. However, the employer deposits the money once a year - at year end.
What is the total balance in the account at the end of 25th year?
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