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How much of what you will receive is interest

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Reference no: EM132481347

Suppose you want to with draw $100 at the end of each month for five years from an account paying 4.5% compounded monthly.

a. How much must you have as a total amount saved in the beginning??

b. How much will you receive in total?

c. How much of what you will receive is interest?

Reference no: EM132481347

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