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Find how much would have in the account after fifteen years

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Problem 1: If you invest $325 per month for the next 12 years earning 6% (annual rate) compounded monthly, how much would you have in the account at the end of the 12 years?

Problem 2: Following question above if you leave that in the account but add nothing to it, how much would you have in the account 15 years later (27 years from when you first started investing and assuming the same interest rate compounded monthly throughout the entire 27 years)?

Reference no: EM132770223

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