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 1.0025

(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: 978-1285741550

8th edition

Authors: James Stewart

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Question Posted: Apr 15, 2019 09:36 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 In = 100 п 0.0025

Step by Step Answer:

a Substitute 1 to 6 for n in In ...View the full answer

Calculus Early Transcendentals

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