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What is the approximate amount

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Question - The parents of a recent high school graduate decide to invest the? $16,000 she received for her high school graduation in a fund earning? 11% annual interest. At the end of the four-year ?period, she expects to withdraw the money to pay for accumulated college tuition loans. What is the approximate amount that would be available for withdrawal after four years if interest is compounded? monthly?

A. ?$26,961

B. $24,794

C. $7,040

D. ?$24,289

Reference no: EM133079148

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