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Starting on the day Jacob was born, his mother has invested $30 at the beginning of every month in a savings account that earns 2.30%
Starting on the day Jacob was born, his mother has invested $30 at the beginning of every month in a savings account that earns 2.30% compounded monthly. a. How much did Jacob have in this account on his 18th birthday? Assume that there was no deposit on that day. Round to the nearest cent b. What was his mother's total investment? Round to the nearest cent C. How much interest did the investment earn? Round to the nearest cent What is the accumulated value of periodic deposits of $3,000 made into an investment fund at the beginning of every six months, for 6 years, if the interest rate is 3.75% compounded semi-annually? Round to the nearest cent
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