A person deposits $60 at the end of each month in an account which earns 12.5% compounded monthly for 17 years. The person then stops
A person deposits $60 at the end of each month in an account which earns 12.5% compounded monthly for 17 years. The person then stops making the deposits, but allows the money to remain in the bank earning the same interest for 5 more years. a. Find the value of this account at the end of 22 years. $ b. State the total amount of interest earned on this account. $
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Authors: Rupert Pearce, Simon Barnes
1st Edition
0470027576, 978-0470027578
