An account that pays 6% compounded MONTHLY has $2000 deposited at the end of every month. Find the value of the account at the end of the year. (round to the nearest hundredth)

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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An account that pays 6% compounded MONTHLY has
$2000 deposited at the end of every month. Find the
value of the account at the end of the year. (round to the
nearest hundredth)
Transcribed Image Text:An account that pays 6% compounded MONTHLY has $2000 deposited at the end of every month. Find the value of the account at the end of the year. (round to the nearest hundredth)
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