Kym plans to deposit $100 in an account at the end of each month for the next five years so that she can take a trip. (a) If Kym's opportunity cost rate is 6 percent compounded monthly, how much will she have in the account in five years? (b) How much will be in the account if the deposits are made at the beginning of each month? 4-11

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Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.