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If you make monthly deposits of $367.00 into an ordinary annuity earning annual interest rate of 4.83% compounded monthly, how much will you have
If you make monthly deposits of $367.00 into an ordinary annuity earning annual interest rate of 4.83% compounded monthly, how much will you have in your account after 7 years? How much interest did you earn in the first year? How much interest did you earn in the 7th year? Amount in the account after 7 years: Interest earned in the first year: Interest earned in the 7th year: (Note: Your answers should include a dollar sign and be accurate to two decimal places)
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