Solution-Balance at the end of month 10

Balance at the end of month 10

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Reference no: EM131397436

You plan to save $100 per month at the end of each month. Assume the saving account pays 6% annual interest rate compounded monthly.

a) What will be your balance at the end of month 10?

b) If you deposit an additional $100 on at the end of month 5, what will be your new balance at the end of month 10?

Reference no: EM131397436

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Balance at the end of month 10 : You plan to save $100 per month at the end of each month. Assume the saving account pays 6% annual interest rate compounded monthly. a) What will be your balance at the end of month 10?

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Balance at the end of month 10

Reference no: EM131397436

Reference no: EM131397436

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