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The Ajax Co. just decided to save $1,500 a month for the next five years as a safety net for recessionary periods. The money will

  1. The Ajax Co. just decided to save $1,500 a month for the next five years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 3.25% interest compounded monthly. It deposits the first $1,500 today. What is the value of this investment in 5 years? A. $82,964.59 B. $97,847.3 C. $83,428.87 D. $83,687.23 E. $84,998.01

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