Brenda plans to reduce her spending by $50 a month. What would be the future value of

Question:

Brenda plans to reduce her spending by $50 a month. What would be the future value of this reduced saving over the next 10 years? (Assume an annual deposit to her savings account, and an annual interest rate of 3 percent.)

Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...

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