If $200 is deposited in a savings account at the beginning of each year for 15...
Homework Answers
The formula = yearly deposit*((((1+interest rate)^no of years)-1)/interest rate)
=200*((((1+0.06)^12)-1)/0.06)
=$3373.98
So, at the end of 15 years there would be $3374 in the account
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$200 is deposited in a savings account at the beginning of each
year for 15...
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