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Faria plans to save $90 a month, starting her monthly deposits today, for 20 years. Guada plans to save $100 a month for 20 years,
Faria plans to save $90 a month, starting her monthly deposits today, for 20 years. Guada plans to save $100 a month for 20 years, starting her monthly deposits one month from today. Both Faria and Guada expect to earn an average annual return of 7.5 percent, compounded monthly on their savings. At the end of the 20 years, Guada will have approximately ________ than Faria. A. $5,537.31 more B. $5,883.39 less C. $5,225.83 more D. $5,883.39 more E. $5,225.83 less
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