Lauren plans to deposit $6000 into a bank account at the beginning of next month and $250/month into the same account at the end of that month and at the end of each subsequent month for the next 5 years. If her bank pays interest at a rate of 5%/year compounded monthly, how much will Lauren have in her account at the end of 5 years? (Assume she makes no withdrawals during the 5-year period. Round your answer to the nearest cent.)

Answer rating: 100% (QA)

Lauren will have approximately 2094783 in her account at the end of 5 years Heres how we can calcu... View the full answer