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How much will you have at the end of the seventh year

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Question - You are scheduled to receive $20,000 in four years time. When you receive it you will invest it for three more years at 8% p.a. with monthly compounding. How much will you have at the end of the seventh year?

A. $25,194.24

B. $27,209.78

C. $25,404.74

D. $34,984.44

E. $34,276.49

Reference no: EM133028016

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