Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings account earns 2.25% compounded monthly. If he puts the money in his savings account at the end of each month, how much interest is included in the future value of the annuity? Select one: OA $18 000.00 OB. $18 603.37 OC$603.37 D. $408.04 OE$18 408.04 Clear my choice

Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings account earns 2.25% compounded monthly. If he puts the money in his savings account at the end of each month, how much interest is included in the future value of the annuity? Select one: OA $18 000.00 OB. $18 603.37 OC$603.37 D. $408.04 OE$18 408.04 Clear my choice

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings account earns 2.25% compounded
monthly. If he puts the money in his savings account at the end of each month, how much interest is included in the future value of the
annuity?
Select one:
OA $18 000.00
OB.$18 603.37
OC $603.37
D. $408.04
OE$18.408.04
Clear my choice

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