In order to save for her high school graduation, Marie decided to save P200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will her money be at the end of 6 years? Given: R = 200 = 12 i(12) = 0.250% = 0.0025 0.002 5 j= m= %3D =0.000208 12 t= 6 years n= tm (6)(12)= 72 periods Find: F Write your solution here!

In order to save for her high school graduation, Marie decided to save P200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will her money be at the end of 6 years? Given: R = 200 = 12 i(12) = 0.250% = 0.0025 0.002 5 j= m= %3D =0.000208 12 t= 6 years n= tm (6)(12)= 72 periods Find: F Write your solution here!

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.CR: Chapter Review

Problem 52E: Investment problem If Landon invests 3000 in a 6-year certificate of deposit at the annual rate of...

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