Charlie Makes Monthly Deposits into an Account Earning J₁₂ =

question 44

Multiple Choice

Charlie makes monthly deposits into an account earning j₁₂ = 6%.His first deposit is $P and each monthly deposit thereafter increases by $80.One month after his 24^th deposit,he has accumulated $36,415.What is P?

• A)$530.95
• B)$528.30
• C)$526.44
• D)$523.85

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