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You are planning to make monthly deposits of $100 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will

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You are planning to make monthly deposits of $100 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 28 years? $114,406.60 $118,613.63 $131,099.27 $1,498,277.43 $124,856.45

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