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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,

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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 will have $13,000 in your account. If the bank compounds interest monthly, what nominal annual interest rate will you be earning? 8.91% 6.63% 8.00% 5.79% 7.62%

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