An investment of P2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.

Economics Today and Tomorrow, Student Edition
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Chapter6: Saving And Investing
Section6.1: Why Save?
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An investment of $2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at
the end of the term, if interest is 5% compounded monthly?
Round your answer to 2 decimal places.
Transcribed Image Text:An investment of $2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.
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