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Dream On Bank offers a savings account that pays 4.6% APR, compounded monthly. a. If you deposit $700 into this account and leave it there,
Dream On Bank offers a savings account that pays 4.6% APR, compounded monthly. a. If you deposit $700 into this account and leave it there, how much money will be in the account at the end of three years? b. If instead you deposit $700 per month into this account, how much money will be in the account at the end of three years? c. How much money would you need to invest today in this account so it would grow to $5000 in six years? d. How much money would you need to invest each month so it would grow to $5000 in six years?
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