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Time Value of Money If you put away P500 at the end of each month, for the next 40 months at a 12% simple annual

Time Value of Money

If you put away P500 at the end of each month, for the next 40 months at a 12% simple annual interest rate, how much money would you end up with?

What if you started at the beginning of each month?

Please answer with full solutions and explanation, Thank you!

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