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The day Little Joey was born his smart Grand Parents opened an Investment Account that promised to pay 8% per year with a lump sum of $10,000. In addition, they had been investing $100 per month in the same account. Today Joey turned 18 and his Grand Parents liquidated this investment account and gave the total proceed to Joey for his college education. The amount of total proceeds is:

a. $43,705

b. $ 47,728

c. $90,014

d. $84,900

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91559314

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