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You plan to save $100 per month at the end of each month. Assume the savings account pays 6% annual interest rate compounded monthly. 1.
You plan to save $100 per month at the end of each month. Assume the savings account pays 6% annual interest rate compounded monthly.
1. What will be the balance at the end of month 10?
2. If you deposit an additional $100 on at the end of month 5, what will be your new balance at the end of month 10?
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Monetary Policy And Public Finance
Authors: G. C. Hockley
1st Edition
1138704792, 978-1138704794
