Suppose you have saved $216 each month for the last 7 years to make a down payment on a house. The account earned an interest rate of 0.53 percent per month. How much money is in your account? Enter your answer rounded off to two decimal points. Do not enter $ in the answer box. Remember to enter the final answer as a positive number.
Suppose you have saved $216 each month for the last 7 years to make a down payment on a house. The account earned an interest rate of 0.53 percent per month. How much money is in your account? Enter your answer rounded off to two decimal points. Do not enter $ in the answer box. Remember to enter the final answer as a positive number.
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
Related questions
Question
![Suppose you have saved $216 each month for the last 7 years to make a down payment on a
house. The account earned an interest rate of 0.53 percent per month. How much money is in
your account?
Enter your answer rounded off to two decimal points. Do not enter $ in the answer box.
Remember to enter the final answer as a positive number.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4a6575ac-0219-4907-b3d3-abf5a0a4a90f%2F65475e53-7be3-4c0b-a47d-54b3caad8bb5%2Fateg7bi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose you have saved $216 each month for the last 7 years to make a down payment on a
house. The account earned an interest rate of 0.53 percent per month. How much money is in
your account?
Enter your answer rounded off to two decimal points. Do not enter $ in the answer box.
Remember to enter the final answer as a positive number.
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