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1200 is deposited into an account that applies interest monthly at the nominal annual rate of 12%. At the end of each month the interest
1200 is deposited into an account that applies interest monthly at the nominal annual rate of 12%. At the end of each month the interest plus an addition 100 are withdrawn and deposited into a second account that earns 2% every month. 
2 12 1200 is deposited into an account that applies interest monthly at the nominal annual rate of 22% At the end of each month the interest plus an addition 100 are with drawn and deposited into a second account that earns 2% every month. How much is accummulated in the second account at the end of 12 months ? Show all work 2 How much is accummulated in the second account at the end of 12 months ?
SHOW ALL WORK USING FORMULAS AND ALL STEP WORKED OUT ON PAPER.
THIS IS FINANCIAL MATH
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Passive Income
Authors: Brian Stclair
1st Edition
1539739694, 978-1539739692
