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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 $2,800 at the end
You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $2,800 at the end of each month, how many months will it take for your account to grow to $500,000? a. 122.72 months b. 122.21 months c. 38.47 months d. 97.08 months e. 37.54 months
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