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How long will take for the account balance to reach

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Reference no: EM133005841

Problem 1: Suppose Andy deposits $45,000 into an account earning 6 % annual interest, compounded monthly. How long will it take for his account balance to reach $67,000?

A. 80 months

B. 100 months

C. 90 months

D. 70 months

Reference no: EM133005841

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