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Joseph Ray just received an inheritance of $30,000 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 3.75%

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Joseph Ray just received an inheritance of $30,000 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 3.75% per year with quarterly compounding for 30 years, how much will he have accumulated? (Round off to the nearest dollar.) $92,449 $91,923 $90,524 $84,263

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