Question
Penny invests %500 in an account at the end of each month for 40 years. The account has an annual interest rate of 10%, with
Penny invests %500 in an account at the end of each month for 40 years. The account has an annual interest rate of 10%, with interest compounded monthly.
a. How much money will Penny have saved up at the end of the 40 years?
b. How much interest will Penny earn?
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An Introduction to Analysis
Authors: William R. Wade
4th edition
132296381, 978-0132296380
