83.1k views
3 votes
Mattis saving to buy a new motorcycle. If he deposits $50 at the end of each month in an account that pays an annual interest rate of 3.5%, how much will he have in 30 months? Assume that the compounding is being done monthly

(Round the final answer to the nearest cent as needed. Round all intermediate values to eight decimal places as needed.)

User Sgib
by
9.0k points

1 Answer

3 votes
In thirty months you should have 5,250.00
User Clodagh
by
8.0k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories