How much interest was earned on the investment

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Reference no: EM131937341

On my 20th birthday, I start depositing $400 at the end of every month into a bank account. The account earns 2.3% interest compounded monthly.

1. How much will be available on my 32nd birthday?

2. On my 32nd birthday, my husband starts making withdrawals at the begining of the month for the next 4 years, eventually depleting the account. What is the size of each of my husbands withdrawals?

3. How much interest was earned on the investment?

Reference no: EM131937341

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