TheGoat44941 TheGoat44941

04-11-2021
Mathematics

contestada

You deposit $400 each month into an account earning 3% interest compounded monthly.

a) How much will you have in the account in 30 years?

$

b) How much total money will you put into the account?

$

c) How much total interest will you earn?

$

Respuesta :

ciafiapk ciafiapk

04-11-2021

3% means 1.03 per year

multiplier 1.03

After 30 years

400 x[ (1.03) 30 times] = $970.91

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