Suppose you deposit $20 each month into an account that pays 12% annually (but compounds...
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Accounting
Suppose you deposit $20 each month into an account that pays 12% annually (but compounds the interest monthly). Had you simply saved that money in your desk drawer, you'd have $240 saved up at the end of the year. By investing in the account, what is the percent increase in the value of your account over the $240 you would have otherwise? Round your answer to the closest whole number percentage
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