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Find the value of this account at the end of years

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Question - A person deposits $90 at the end of each month in an account which earns 5% compounded monthly for 30 years. The person then stops making the deposits, but allows the money to remain in the bank earning the same interest for 12 more years.

a. Find the value of this account at the end of 42 years.

b. State the total amount of interest earned on this account.

Reference no: EM133069774

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