You deposit $7,500 in an account with a 2.75% interest rate…
You deposit $7,500 in an account with a 2.75% interest rate and monthly compounding. Find the balance in the account after 3 years. DIRECTIONS for SHOWING WORK: Show all relevant steps, including any formulas you use, so it’s clear how you obtained your answer. Use the EQUATION EDITOR to type all mathematical equations and formulas. Write your final answer in a complete sentence in the context of the problem. Round your final answer to two decimal places.
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