Question: Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. 23) $2500 deposit at

Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. 23) $2500 deposit at an APR of 3% with monthly compounding for 8 years

A) $2541.74 B) $2550.44 C) $3177.17 D) $14,901.16

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