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In order to save money for a new home, you plan to deposit $ 1 , 1 0 4 monthly to a bank account paying

In order to save money for a new home, you plan to deposit $

1, 104

monthly to a bank account paying

6 %

interest per year, compounded monthly. The first deposit will be made one month from today. How much money can be withdrawn from this bank account immediately after

2

years

(24

th deposit

) ?

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