Question
Page 360 / #14 Each month Nancy Taylor deposits $60 into her savings and loan account which pays 6% compounded monthly. After 4 years the
Page 360 / #14
Each month Nancy Taylor deposits $60 into her savings and loan account which pays 6% compounded monthly. After 4 years the payments stop, but the account is left untouched for another 2 years.
a. How much is in the account at the end of 6 years?
b. How much interest is earned?
Please show your step by step solution.
Thank you.
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