duardo is making monthly contributions of of $230 to his savings account which pays interest at che APR of 5%, compounded monthly. Right after Eduardo makes his 67th contribution, the bank changes the APR to 5.9% and Eduardo makes 31 more $230 contributions. What is Eduardo's balance right after his last contribution? %24

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Eduardo is making monthly contributions of of $230 to his savings account which pays interest at
the APR of 5%, compounded monthly. Right after Eduardo makes his 67th contribution, the bank
changes the APR to 5.9% and Eduardo makes 31 more $230 contributions. What is Eduardo's
balance right after his last contribution?
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E 直 0
a.
dy
#
3.
&
Ock
S.
Transcribed Image Text:00 o/0 %24 Eduardo is making monthly contributions of of $230 to his savings account which pays interest at the APR of 5%, compounded monthly. Right after Eduardo makes his 67th contribution, the bank changes the APR to 5.9% and Eduardo makes 31 more $230 contributions. What is Eduardo's balance right after his last contribution? Submit Question O Type here to search E 直 0 a. dy # 3. & Ock S.
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