Question: Question 1 individual contributes $ 2 5 0 per month to a retirement account. The account earns interest at a nominal annual interest rate of

Question 1
individual contributes $250 per month to a retirement account. The account earns interest at a nominal annual interest rate of 6%, with interest being credited monthly. What is the value of the account after 5 years?
a. $17,442
b. $44,567
c. $40,970
d. $68,976
Question 1 individual contributes $250 per month to a retirement account.

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