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# 16 If you invest $250 at the end of each month for the next 7 years into an account that has an interest rate of 8.

16

If you invest $250 at the end of each month for the next 7 years into an account that has an interest rate of 8.4% per year, compounded monthly, how much will you have in the account 7 years from today?

Select one:

a. $24,533.60

b. $26,185.24

c. $28,453.57

d. $29,340.43