Suppose that you deposit $300 a month into an account for 5 years that pays 4.5% interest per year, compounded monthly. Find the future amount of your plan at the end of 5 years.

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asked Apr 1, 2021 9.4k views

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Suppose that you deposit $300 a month into an account for 5 years that

pays 4.5% interest per year, compounded monthly. Find the future amount
of your plan at the end of 5 years.

Mathematics
middle-school

AndyReifman asked

by AndyReifman

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2 Answers

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Well the answer would be long

RMonteiro answered Apr 3, 2021

by RMonteiro

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You will have $20,219.20 at your plan at the end of 5 years.

Ashwin Valento answered Apr 6, 2021

by Ashwin Valento

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