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Sydney is considering investing in a bank account that pays a nominal annual interest rate of 5.5%, compounded monthly. If she invests $5,000 at the
Sydney is considering investing in a bank account that pays a nominal annual interest rate of 5.5%, compounded monthly. If she invests $5,000 at the end of each month, how many months will it take for her account to grow to $100,000?
32.26 | ||
8.28 | ||
13.98 | ||
19.18 | ||
23.50 |
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