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You opened an account that pays a nominal interest rate of 8 percent, but interest is compounded monthly. Your plan is to deposit $2000 in
You opened an account that pays a nominal interest rate of 8 percent, but interest is compounded monthly. Your plan is to deposit $2000 in the account today. You also plan to deposit $5,000 in the account at the end of each of the next four years. How much will you have in the account at the end of four years, after making your final deposit?
Group of answer choices
22,000.00
25,381.95
25,251.53
25,832,71
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