Five years as a safety net for recessionary periods

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Reference no: EM131453429

A man decides to save $1, 500 at the end of every month for the next five years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 4.5% interest compounded monthly. The first deposit will be made one month from today. After five years, how much will be in this man's safety net fund?

Reference no: EM131453429

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