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You believe in the power of compounding and decide to save $1 per day by avoiding the purchase of a soda. You deposit the $1

You believe in the power of compounding and decide to save $1 per day by avoiding the purchase of a soda. You deposit the $1 at the end of each day in a bank account that pays 8% interest compounded daily. You are going to take a trip in 20 years with the money you have accumulated. How much money will you have in 20 years, assuming 365 days per year? A) $18,032 B) $22,456 C) $12,438 D) $7,500

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