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If you invest $200 at the end of each month for 10 years at an annual interest rate of 7% compounded monthly, how much will you have at the end? a) $32,776.48 b) $34,817.26 c) $36,233.71 d) $38,129.44

If you invest $200 at the end of each month for 10 years at an annual interest rate of 7% compounded monthly, how much will you have at the end? a) $32,776.48 b) $34,817.26 c) $36,233.71 d) $38,129.44

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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If you invest $200 at the end of each month for 10 years at an annual interest rate of 7% compounded monthly, how much will you have at the end? a) $32,776.48 b) $34,817.26 c) $36,233.71 d) $38,129.44
Transcribed Image Text:If you invest $200 at the end of each month for 10 years at an annual interest rate of 7% compounded monthly, how much will you have at the end? a) $32,776.48 b) $34,817.26 c) $36,233.71 d) $38,129.44
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