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What is the interest rate per period

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Reference no: EM131782004

Question: Suppose $100 is deposited at the beginning of each month for 3 years in an account that pays 6%, compounded monthly.

(a) What is the total number of payments (or periods)?

(b) What is the interest rate per period?

(c) What formula is used to find the future value of the annuity?

(d) Find the future value.

Reference no: EM131782004

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