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You decide that you want to be a responsible citizen and save for the future. You open a savings account. Your bank offers a 3%
You decide that you want to be a responsible citizen and save for the future. You open a savings account. Your bank offers a 3% APR compunded monthly. When you opened the account you decided to start off by making an initial deposit of $100 and regular monthly deposits of $50. Complete the following table.
End of Month Nmber | Interest Payed on Previous Balance | Deposit | Balance | ||||
0 | |||||||
1 | |||||||
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12 |
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