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Posted on Jul 25, 2024

You make $ 8 , 1 0 0 annual deposits into a retirement account that pays an APR of 1 0 . 3 percent compounded

You make $

8, 100

annual deposits into a retirement account that pays an APR of

10.3

percent compounded monthly. Your first deposit will be on year from today. How large will your account balance be in

31

years?

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