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Find the future value of the account on december

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On September 19, Lynn Alright started an annuity. She arranged to have $100 deducted from her beginning-of-month paycheck. The money would earn 8% interest compound monthly.

Question (a) Find the future value of the account on December 1 using an Amortization Formula. (Round your answer to the nearest cent.)

Question (b) Find the future value of the account on December 1 by applying the Compound Interest Formula to each payment individually. (Round your answer to the nearest cent.)

Question (c) Find Lynn's total contribution to the account.

Question (d) Find the total interest. (Round your answer to the nearest cent.)

Reference no: EM132561397

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