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Assume you put $500 per month into a retirement account for 15 years, and the account has an APR of 3.01% compounded monthly. What is
Assume you put $500 per month into a retirement account for 15 years, and the account has an APR of 3.01% compounded monthly.
What is the account balance at the end of the 15 years? Round your answer to the nearest cent. $
How much of the money in the account at the end of the 15 years is your personal investment, meaning that the money came directly from you? $
How much of the money in the account at the end of the 15 years is interest? $
What percentage of the account balance after 15 years is interest? Hint: The percentage of interest in
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