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Question
Alva Thomas has decided to place $10,000 in an account payable to his alma matter when he dies. If the account grows at an annual rate of 6% compounded monthly and he lives for another 10 years, the university will receive
A) 10,000(1 + .06)10 B) 10,000(1 + .005)120 C) 10,000(1 + .06)120 D) 10,000/(1 + .005)120
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