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Monthly compounding implies that interest is compounded times per year. You have deposited $1,200 into an account that will earn an interest rate of 5%

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Monthly compounding implies that interest is compounded times per year. You have deposited $1,200 into an account that will earn an interest rate of 5% compounded semiannually. How much will you have in this account at the end of eight years? $1,425.13 $1,336.06 $1,781.41 $1,246.99

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