Answered: You deposit $500 each month for four…

You deposit $500 each month for four years. How much will be in the account after the four years if the interest rate is 4% monthly?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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You deposit $500 each month for four years. How much will be in the account after the four years if the
interest rate is 4% monthly?

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