If you deposit $100 at the end of every month into an account that pays 3% interest

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If you deposit $100 at the end of every month into an account that pays 3% interest per year compounded monthly, the amount of interest accumulated after n months is given by the sequence

(a) Find the first six terms of the sequence.

(b) How much interest will you have earned after two years?

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Calculus Early Transcendentals

ISBN: 9781337613927

9th Edition

Authors: James Stewart, Daniel K. Clegg, Saleem Watson, Lothar Redlin

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Question Posted: May 20, 2021 06:29 AM

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If you deposit $100 at the end of every month into an account that pays 3% interest

Question:

1.0025" – 1 I, - 100 n 0.0025

Step by Step Answer:

a b For two years use 2 12 24 f...View the full answer

Calculus Early Transcendentals

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