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You plan to save $5,000 at the end of every year for 5 years. The applicable interest rate is 4%, compounded monthly. After 5 years

You plan to save $5,000 at the end of every year for 5 years. The applicable interest rate is 4%, compounded monthly. After 5 years you will no longer make deposits. What will your investment be worth in 8 years time?

Points: 1

  1. $30,574

  2. $27,122

  3. $30,463
  4. $27,103

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