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James and Terry Open a Savings Account That Has a 2.75

Question 30

Multiple Choice

James and Terry open a savings account that has a 2.75% annual interest rate,compounded monthly.They deposit $500 into the account each month.How much will be in the account after 20 years?


A) $48,407.45
B) $159,744.59
C) $330,600.15
D) $580,894.18

Correct Answer:

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