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A worker deposits $700 at the end of each month for 3 years in an investment account with a guaranteed interest rate of 4.33% compounded
A worker deposits $700 at the end of each month for 3 years in an investment account with a guaranteed interest rate of 4.33% compounded monthly. (a) Find the value in the account at the end of the 3 years. (c) How much more money is gained by investing in the better strategy described in part (a) or in part (b)? (a) The worker's deposits form an because the deposits are made at the of each period. Therefore, the formula should be used. The value in the account at the end of the 3 years will be $ (Do not round until the final answer. Then round to the nearest cent as needed.) (b) The value of the rival firm's investment strategy at the end of 3 years will be $ (Do not round until the final answer. Then round to the nearest cent as needed.) (c) The worker will gain $ more by investing in the better strategy. (Do not round until the final answer. Then round to the nearest cent as needed.) (a) The worker's deposits form an because the deposits are made at The value in the account at the enc (Do not round until the final answel cent as needed.) (b) The value of the rival firm's inve f 3 years will be $ (Do not round until the final answel cent as needed.) annuity due (c) The worker will gain $ more ,,. ategy. (Do not round until the final answer. Then round to the nearest cent as needed.) Orker's deposits form an because the deposits are made at the of each period. Therefore, the formula should be used. in the account at the end of the 3 years will be $ und until the final answer. Then round to the nearest cent as needed.) lue of the rival firm's investment strategy at the end of 3 years will be $ beginning und until the final answer. Then round to the nearest cent as needed.) orker will gain $ more by investing in the better strategy. und until the final answer. Then round to the nearest cent as needed.) Ise the deposits are made at the of each period. Therefore, the formula should be used. est cent as needed.) nd of 3 years will be $ est cent as needed.) FV=PMT[i(1+i)n1] strategy. est cent as needed.) FV=PMT[i(1+i)n+11]PMT A worker deposits $700 at the end of each month for 3 years in an investment account with a guaranteed interest rate of 4.33% compounded monthly. (a) Find the value in the account at the end of the 3 years. (c) How much more money is gained by investing in the better strategy described in part (a) or in part (b)? (a) The worker's deposits form an because the deposits are made at the of each period. Therefore, the formula should be used. The value in the account at the end of the 3 years will be $ (Do not round until the final answer. Then round to the nearest cent as needed.) (b) The value of the rival firm's investment strategy at the end of 3 years will be $ (Do not round until the final answer. Then round to the nearest cent as needed.) (c) The worker will gain $ more by investing in the better strategy. (Do not round until the final answer. Then round to the nearest cent as needed.) (a) The worker's deposits form an because the deposits are made at The value in the account at the enc (Do not round until the final answel cent as needed.) (b) The value of the rival firm's inve f 3 years will be $ (Do not round until the final answel cent as needed.) annuity due (c) The worker will gain $ more ,,. ategy. (Do not round until the final answer. Then round to the nearest cent as needed.) Orker's deposits form an because the deposits are made at the of each period. Therefore, the formula should be used. in the account at the end of the 3 years will be $ und until the final answer. Then round to the nearest cent as needed.) lue of the rival firm's investment strategy at the end of 3 years will be $ beginning und until the final answer. Then round to the nearest cent as needed.) orker will gain $ more by investing in the better strategy. und until the final answer. Then round to the nearest cent as needed.) Ise the deposits are made at the of each period. Therefore, the formula should be used. est cent as needed.) nd of 3 years will be $ est cent as needed.) FV=PMT[i(1+i)n1] strategy. est cent as needed.) FV=PMT[i(1+i)n+11]PMT
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