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Gus Locklin is planning to open an investment firm in 3 years and currently has an amount of $278,660.00. Given an interest rate of 12.00%

Gus Locklin is planning to open an investment firm in 3 years and currently has an amount of $278,660.00. Given an interest rate of 12.00% compounded monthly, how much will they have in 3 years?

a. $398,698.03

b. $279,354.05

c. $391,497.24

d. $1,085,652.67

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