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Question 21 You are considering the purchase of an investment that pays an annual rate of 6.80%, compounded monthly. If you invest $3,500 at the

Question 21

You are considering the purchase of an investment that pays an annual rate of 6.80%, compounded monthly. If you invest $3,500 at the end of each month, how many months will it take for your account to grow to $400,000? Round UP to the nearest month. whole

a. 114 months

b. 120 months

c. 36 months

d. 89 months

e. 95 months

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