What will michelles balance be in five years

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Reference no: EM131306580

Future Value of Annuity. Michelle is attending college and has a part-time job. Once she finishes college, Michelle would like to relocate to a metropolitan area.

She wants to build her savings so that she will have a "nest egg" to start her off.

Michelle works out her budget and decides she can afford to set aside $50 per month for savings. Her bank will pay her 3% on her savings account. What will Michelle's balance be in five years?

Reference no: EM131306580

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