You are considering making a one-time deposit of $5,080 today, in a bank that offers an interest
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Question:
You are considering making a one-time deposit of $5,080 today, in a bank that offers an interest rate of 7% APR. If you leave your money invested for 5 years, how much money will you have at the end of this period? Consider monthly compounding.
Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
Related Book For
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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