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Your department at work places $10,000 every year-end into an account earning 5%. The money is used when the corporate office fails to fully finance
Your department at work places $10,000 every year-end into an account earning 5%. The money is used when the corporate office fails to fully finance your profitable projects. The money has not been touched since a deposit was made exactly five years ago. If the most recent deposit was made today, how much money is currently in the account?
A) $68,019.13
B) $65,256.31
C)$60,000
D)$55,256.31
Please show your work/calculations to better help me understand (and to get the points). Thanks!
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