RM100 is deposited every month in an account that pays 12% compounded monthly for two years. After the two years, no more deposits are made. Find the amount of the account at the end of the five years and the interest earned.
RM100 is deposited every month in an account that pays 12% compounded monthly for two years. After the two years, no more deposits are made. Find the amount of the account at the end of the five years and the interest earned.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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