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What is the interest rate per month

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

What is the interest rate per month? (Give an exact answer.)

Find an exponential growth model for A, the value (in dollars) of the account after t years.

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

Reference no: EM133040476

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