Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman

Exercise 123

Hi-Tech Hardware has been in business for a few years and is doing well. The owner has decided to save for a future expansion to a second location. He invests $1,000 at the end of every month at 12% interest compounded monthly.
a. How much will be available for the second store after 2 1 2 years?
b. How much would be in the account if the owner saved for 5 years?
c. How much would be in the account after 5 years if it had been an annuity due?