For 14 years, Janet saved $800 at the beginning of every month in a fund that earned 5.15% compounded annually. a. What was the balance in the fund at the end of the period? Round to the nearest cent b. What was the total amount of interest earned over the period? Round to the nearest cent Don't use excel.

For 14 years, Janet saved $800 at the beginning of every month in a fund that earned 5.15% compounded annually. a. What was the balance in the fund at the end of the period? Round to the nearest cent b. What was the total amount of interest earned over the period? Round to the nearest cent Don't use excel.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter19: Capital Investment

Section: Chapter Questions

Problem 8E

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