What is the total amount in an account that has had $45 per month added into it for 30 years and grew with an annual interest rate of 8%?

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asked May 13, 2019 173k views

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Xonatron · Answer 1 · 2019-05-18T01:26:04+0000

30 years x 12 months = 360 months
360 x $45 per month = $16,200
8% of $16,200 = $1,296

I'm really not sure of this. The last one may be wrong, i apologize if it is.

What is the total amount in an account that has had $45 per month added into it for 30 years and grew with an annual interest rate of 8%?

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