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Yoon needs to save some money to buy her first car after she graduates. At the beginning of each month, she makes a deposit of
Yoon needs to save some money to buy her first car after she graduates. At the beginning of each month, she makes a deposit of $425. What is the accumulated value after four years if the money earns interest at 4% compounded monthly?
a.
$18,822.75
b.
$18,885.50
c.
$22,156.44
d.
$22,082.83
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