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Suppose an account pays 2.5% interest that is compounded annually. At the beginning of each year, $10,000 is deposited into the account
(starting with $10,000 for the first year).
Assuming no withdrawals or other deposits are made and that the interest rate is fixed, the balance of the account (rounded to the
nearest dollar) after the seventh deposit is_
O $74,581
O $77,201
O $75,474
O $76,816

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The answer is 75,474

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