Every month, $600 is deposited into an account earning 0.2% interest a month, compounded monthly.Round your answers to two decimal places.(a) How much is in the account right after the 6th deposit? Right before the 6th deposit?Balance right after the 6th deposit3618.05Balance right before the 6th deposit3012.02(b) How much is in the account right after the 12th deposit? Right before the 12th deposit?Balance right after the 12th deposit7279.73Balance right before the 12th deposit=$6666.40

To determine the amounts in the account right after and right before specific deposits, we can use…

Answered: Every month, $600 is deposited into an…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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