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You deposit S300 each month into an account earning 4% interest compounded monthly: How much will you have in the account in 15 years? b) How much total money will ...

Question

You deposit S300 each month into an account earning 4% interest compounded monthly: How much will you have in the account in 15 years? b) How much total money will you put into the account? How much total interest will you earn?

You deposit S300 each month into an account earning 4% interest compounded monthly: How much will you have in the account in 15 years? b) How much total money will you put into the account? How much total interest will you earn?



Answers

Suppose $\$ 2,500$ is invested at $4 \%$ compounded quarterly. How much money will be in the account in (A) $\frac{3}{4}$ year? (B) 15 years?


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