How much will you have in savings plan after fifteen years

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Reference no: EM131505624

Question: A credit card company wants your business. If you accept their offer and use their card, they will deposit 1% of your monetary transactions into a savings account that will earn a guaranteed 5% per year. If your annual transactions total an average of $20,000, how much will you have in this savings plan after 15 years?

Reference no: EM131505624

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