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How much will be in the account three years

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Question - Steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and the interest is compounded monthly. Steven also plans to contribute another $10,000 to the account one year (12 months) from now and another $20,000 to the account two years from now. How much will be in the account three years (36 months) from now?

a. $57,231

b. $48,993

c. $50,971

d. $49,542

e. $49,130

Reference no: EM132875416

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