A deposit of $100 is made into a college fund at the beginning of each month for 10 years. The fund earns 9% annual interest, compounded monthly and paid at the end of the month. How much is in the account right after the last deposit?
A deposit of $100 is made into a college fund at the beginning of each month for 10 years. The fund earns 9% annual interest, compounded monthly and paid at the end of the month. How much is in the account right after the last deposit?
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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A deposit of $100 is made into a college fund at the beginning of each month for 10 years. The fund earns 9% annual interest, compounded monthly and paid at the end of the month. How much is in the account right after the last deposit?
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