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You are considering making a one-time deposit of $3401 today, in a bank that offers an interest rate of 3% APR. If you leave your

You are considering making a one-time deposit of $3401 today, in a bank that offers an interest rate of 3% APR. If you leave your money invested for 8 years, how much money will you have at the end of this period? Consider monthly compounding.

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