Cam saved $225 each month for the last three years while he was working. Since he has now gone back to school, his income is lower and he cannot continue to save this amount during the time he is studying. He plans to continue with his studies for three years and not withdraw any money from his savings account. Money is worth 4.2% compounded monthly. (a) How much will Cam have in total in his savings account when he finishes his studies? (b)How much did he contribute? (c)How much will be interest?

Question content area bottom

Part 1

 

(a) What is the future value?

 

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Part 2

(b)

What is Cam contributed ?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Part 3

 

(c)What is  the interest ?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)