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Wanda and Claire each openup new bank accounts at time 0. Wanda deposits 1,000 into her bank account, and Claire deposits $700 into hers. Each
Wanda and Claire each openup new bank accounts at time 0.
Wanda deposits 1,000 into her bank account, and Claire deposits $700 into hers. Each account earns the same nominal annual interest rate compounded monthly.
The amount of interest earned in Wanda's account during the 11th year is equal to X. The amount of interest earned in Claire's account during the 15th year is also equal to X. Calculate X.
A) 18.19
B) 18.96
C) 218.31
D) 227.50
E) 761.69
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