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You deposit # 100 in a savings account that earns 6% annual interest compounded monthly. What is the balance after 5 years.
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You deposit # 100 in a savings account that earns 6% annual interest compounded monthly. What is the balance after 5 years.
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/665dc097b720a_183665dc097afffb.jpg)
You deposit # 100 in a savings account that earns 6% annual interest compounded monthly. What is the balance after 5 years.
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