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You are planning to make monthly deposits of $50 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will

You are planning to make monthly deposits of $50 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 18 years?

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$31,529.57
$360,337.93
$30,028.16
$27,359.50
$28,526.75

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