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You are considering the purchase of an investment that pays an annual rate of 6.80%, compounded monthly. If you invest $3,500 at the end of

You are considering the purchase of an investment that pays an annual rate of 6.80%, compounded monthly. If you invest $3,500 at the end of each month, how many months will it take for your account to grow to $400,000?

Round UP to the nearest whole month. a. 36 months b. 95 months c. 114 months

d. 89 months

e. 120 months

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