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MatBytha decides to put 2,000 into a savings account at her local bank. This account earns a nominal annual rate of 12% compounded monthly. If

MatBytha decides to put 2,000 into a savings account at her local bank. This account earns a nominal annual rate of 12% compounded monthly. If her bank allows the interest to accumulate in the account so it too earns interest, what will be (approximately) her balance in 5 years? a. 1,782.1 b. 3,633.4 c. 2,347.8 d. 2,054.3

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