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Terry Started Saving $50 a Month at Age 25 in an Account

Question 109

Multiple Choice

Terry started saving $50 a month at age 25 in an account earning 6% compounded monthly.At age 40 she would have _____ in this account.(Use time value tables or financial calculator.Select the closest answer.)


A) $5,252
B) $9,000
C) $9,540
D) $13,962
E) $14,541

Correct Answer:

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