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How much will have collected at the end of eight years

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Problem 1: Mrs. Castruita, mother of 10-year-old Laurita, has started saving so that her daughter can go to college. She plans to deposit $2,000 in a savings account at the end of each month for the next 18 years. If the nominal interest rate is 9% per year, how much will she have collected at the end of 8 years?

Reference no: EM132936957

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