A Man Cuts Back on His Latte Habit and Instead

question 91

Multiple Choice

A man cuts back on his latte habit and instead makes $20 deposits each month into a savings account earning 6% interest compounded monthly. He continues these deposits for eight years. How much will the account be worth after eight years?

• A) $1920
• B) $2457
• C) $2941
• D) $3250

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