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ikrabbe ikrabbe
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7 years ago
Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings account earns 2.25% compounded monthly. If he puts the money in his savings account at the beginning of each month, what will be the present value of the balance in the account at the end of the three-year term?
A) $17 390.19
B) $18 408.04
C) $18 603.37
D) $18 638.25
E) $17 422.79
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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7 years ago
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