You deposit 100$ each month into an account earring 3% interest compounded monthly. How much will you have in the account in 20 years , how much money total will you put into the account. And how much interest will you earn?
You deposit 100$ each month into an account earring 3% interest compounded monthly. How much will you have in the account in 20 years , how much money total will you put into the account. And how much interest will you earn?
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
Related questions
Question
You deposit 100$ each month into an account earring 3% interest compounded monthly.
How much will you have in the account in 20 years , how much money total will you put into the account. And how much interest will you earn?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill