Ali invested in a savings plan where he deposits $ 5 0 0 at the beginning of

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Question:

Ali invested in a savings plan where he deposits $

500

at the beginning of every month. The account pays an interest rate of

5

percent annually but compounds interest monthly. After

10

years, he decided to move the entire amount to another account that pays

7

percent annually. What will be the total amount in his account after

5

years?

Posted Date: May 18, 2024 11:00 PM

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Ali invested in a savings plan where he deposits $ 5 0 0 at the beginning of

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