Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly deposits of $ 80 to the account. If the account earns 3.5% interest compounded monthly, how much money will she have in the account in 4 years? Total after 4 years =

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly
deposits of $ 80 to the account. If the account earns 3.5% interest compounded monthly, how
much money will she have in the account in 4 years?
Total after 4 years =
Transcribed Image Text:Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly deposits of $ 80 to the account. If the account earns 3.5% interest compounded monthly, how much money will she have in the account in 4 years? Total after 4 years =
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