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You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $2,600 at the end
You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $2,600 at the end of each month, how many months will it take for your account to grow to $485,000?
a. 39.07 months
b. 126.07 months
c. 38.14 months
d. 126.59 months
e. 99.64 months
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