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Vclu have been making monthly deposits of $20 into a savings account with monthly compounding for a years, butyou cannot remember what the account's APR
Vclu have been making monthly deposits of $20 into a savings account with monthly compounding for a years, butyou cannot remember what the account's APR is. Use the lower hnundfestimale tor the balance [fmm the course video) to determine a lower bound fur your account's balance. (it necessary. round your answer to the nearest dollar.) sx in Points] PREVIOUS ANSWERS ASK YOURTEACHER PRACTICE ANOTHER You have been making monthly deposits of $15 into a Eavings account with monthly compounding for 9 years. and you do not know what the account's APR is (so you cannot use the Monthly Deposits Balance Furmula to compute the balance exactly]. Eventually you remember that the APY [not the APR) is 2.1%. Use the upper bound/estimate for the balance (trom the course videu) to determine an upper bound for your account's balance. (If necessary, round your answer to the nearest doilar.) _x Von begin saving for retirement at age 25, and you plan to retire at age 65. You want to deposit a certain amount each month into an account that pays an APR of 5% compounded monthly' Make a table that shows the amount yuu must deposit each month in terms or the nest egg you desire to have when you retire. (Round your answers to the nearest cent) Nest egg ze Needed depos t mm i: mom i: monsoon a
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