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What is the interest rate per month

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Reference no: EM132946036

A financial adviser recommends that a client deposit $3,500 into a fund that earns 7.5% annual interest compounded monthly.

Problem 1: What is the interest rate per month? (Give an exact answer.)
r = __________

Problem 2: Find an exponential growth model for A, the value (in dollars) of the account after t years.
A = _________ (most important)

Problem 3: What will be the value (in dollars) of the investment after 5 years? Round to the nearest cent.

Reference no: EM132946036

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