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Luanne wants to have $3275 in her bank account in 10 years. How much money should she deposit if her account earns 7.5% interest which is compounded every month? A. $1589.01 B. …

Luanne wants to have $3275 in her bank account in 10 years. How much money should she deposit if her account earns 7.5% interest which is compounded every month? A. $1589.01 B. …
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Luanne wants to have $3275 in her bank account in 10 years. How much money should she deposit if her account earns 7.5% interest which is compounded every month?

A. $1589.01
B. $2159.45
C. $1921.53
D. $1550.62

User Sebastian Zaha
by
8.2k points

1 Answer

4 votes

Answer:

A. $1589.01

I solved this by a simple trial and error by inputing each answer into the equation.

Explanation:

User Anas Alweish
by
8.2k points
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