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A Deposit of $225 Is Made at the Beginning of Each

Question 5

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A deposit of $225 is made at the beginning of each month into an account at an annual interest rate of 3% compounded monthly. The balance in the account after n months is A deposit of $225 is made at the beginning of each month into an account at an annual interest rate of 3% compounded monthly. The balance in the account after n months is . Find the balance in the account after 4 years by computing the 48th term of the sequence. Round your answer to two decimal places. A) $11,488.17 B) $905.64 C) $9,172.05 D) $24,404.88 E) $1,818.08 . Find the balance in the account after 4 years by computing the 48th term of the sequence. Round your answer to two decimal places.


A) $11,488.17
B) $905.64
C) $9,172.05
D) $24,404.88
E) $1,818.08

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