What would be the future value of this reduced spending

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Question: 1. Brenda plans to reduce her spending by $50 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account, and an annual interest rate of 3 percent.)

2. Kara George received a $5,000 gift for graduation from her uncle. If she deposits this in an account paying 3 percent, what will be the value of this gift in 12 years?

Reference no: EM131485849

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