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You are planning to make monthly deposits of $160 into a retirement account that pays...

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Accounting

You are planning to make monthly deposits of $160 into a retirement account that pays 12 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 24 years?

A. $278,229.15

B. $251,731.14

C. $226,858.06

D. $264,980.14

E. $3,179,761.74

Answer & Explanation Solved by verified expert
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