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Posted on Aug 01, 2024

You make $ 8 , 7 0 0 annual deposits into a retirement account that pays an APR of 1 0 . 1 percent compounded

You make $

8, 700

annual deposits into a retirement account that pays an APR of

10.1

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

33

years?

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