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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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