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How much will have at the end of five years

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Reference no: EM132869582

Question 1: If you deposit $5,000 in a savings account that pays 8% annual interest compounded monthly, and make no other deposits to the account, how much will you have after 5 years?

Question 2: In addition to the $5,000 as specified in the above problem, how much will you have at the end of 5 years if you also deposit an additional $200 at the end of each month for the entire 5 year period?

Reference no: EM132869582

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