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How much will she have in the account in five years

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Reference no: EM132697250

Problem - Kym plans to deposit $100 in an account at the end of each month for the next five years so that she can take a trip.

Required -

(a) If Kym's opportunity cost rate is 6 percent compounded monthly, how much will she have in the account in five years?

(b) How much will be in the account if the deposits are made at the beginning of each month?

Reference no: EM132697250

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