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Question
Suppose you deposited $5,000 in a bank account that pays 5.25% with daily compounding based on a 360-day year. How much would be in the account after 8 months, assuming each month has 30 days?a. $5,178.09
b. $5,436.99
c. $5,708.84
d. $5,994.28
e. $6,294.00
Answer
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