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You are about to open a bank account to prepare for your retirement. You plan to deposit $1,800 per month, and the first deposit will
You are about to open a bank account to prepare for your retirement. You plan to deposit $1,800 per month, and the first deposit will be made 60 months away from today. You plan to make 300 payments, and the interest rate is 2.4% APR, compounded monthly. The account balance before your first deposit is $0.
WHAT WILL BE THE BALANCE OF YOUR ACCOUNT BY THE TIME YOU MAKE YOUR LAST PAYMENT?
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