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.

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Apr 1, 2021 9.4k views

0 votes

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

6.6k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

2 votes

Well the answer would be long

RMonteiro answered Apr 3, 2021

by RMonteiro

6.9k points

0 Comments

Please log in or register to add a comment.

6 votes

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

Ashwin Valento answered Apr 6, 2021

by Ashwin Valento

7.0k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.8m questions

10.4m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

0 Comments

Please log in or register to add a comment.

0 Comments

Please log in or register to add a comment.

Other Questions