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You agree to make 24 deposits of $500 at the beginning of each month into a bank account. At the end of the 24th month,

You agree to make 24 deposits of $500 at the beginning of each month into a bank account. At the end of the 24th month, you will have $13,500 in your account. If the bank compounds interest monthly, what nominal annual interest rate will you be earning? Select the correct answer. a. 14.16% b. 12.66% c. 8.16% d. 11.16% e. 9.66%

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