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Problem related to financial planning

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Reference no: EM131556493

Question: FINANCIAL PLANNING Joe plans to deposit $200 at the end of each month into a bank account for a period of 2 yr, after which he plans to deposit $300 at the end of each month into the same account for another 3 yr. If the bank pays interest at the rate of 6%/year compounded monthly, how much will Joe have in his account by the end of 5 yr? (Assume no withdrawals are made during the 5-yr period.)

Reference no: EM131556493

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