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A Deposit of $250 Is Made at the Beginning of Each

Question 44

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A deposit of $250 is made at the beginning of each month into an account at an annual interest rate of 4% compounded monthly.The balance in the account after n months is A deposit of $250 is made at the beginning of each month into an account at an annual interest rate of 4% compounded monthly.The balance in the account after n months is .Find the balance in the account after 5 years by computing the 60th term of the sequence.Round your answer to two decimal places. ​ A) $16,202.08 B) $1,259.41 C) $12,895.38 D) $34,972.23 E) $2,531.44 .Find the balance in the account after 5 years by computing the 60th term of the sequence.Round your answer to two decimal places. ​


A) $16,202.08
B) $1,259.41
C) $12,895.38
D) $34,972.23
E) $2,531.44

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