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QUESTION 10 You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at

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QUESTION 10 You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $280,000? a. 87 months b. 67 months c. 70 months d. 61 months e. 75 months

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