Question
On September 19, Lynn Alright started an annuity. She arranged to have $100 deducted from her beginning-of-month paycheck. The money would earn 6% interest compound
On September 19, Lynn Alright started an annuity. She arranged to have $100 deducted from her beginning-of-month paycheck. The money would earn 6% interest compound monthly.
(a) Find the future value of the account on December 1 using an Amortization Formula. (Round your answer to the nearest cent.) $ (b) Find the future value of the account on December 1 by applying the Compound Interest Formula to each payment individually. (Round your answer to the nearest cent.) $ (c) Find Lynn's total contribution to the account. $
NOTE 201.50 SHOWS INCORRECT
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