If You Put $10 in a Savings Account at the Beginning

question 35

Multiple Choice

If you put $10 in a savings account at the beginning of each month for 15 years,how much money will be in the account at the end of the 10th year? Assume that the account earns 12% compounded monthly and round to the nearest $1.

• A) $1,200
• B) $2,323
• C) $5,046
• D) $3,485

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