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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 42
The Mesa Grande Bank is paying 9% interest compounded monthly.
a. If you deposit $100 into a savings plan at the beginning of each month, how much will it be worth in 10 years?
b. How much would the account be worth if the payments were made at the end of each month rather than at the beginning?
a. If you deposit $100 into a savings plan at the beginning of each month, how much will it be worth in 10 years?
b. How much would the account be worth if the payments were made at the end of each month rather than at the beginning?
Explanation
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(a)
Calculate the future value of an or...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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