Question: 1. Ms. Jones saved $100 per month for 30 years at 6% interest compounded monthly. How much were her accumulated savings worth? 2. An apartment

1. Ms. Jones saved $100 per month for 30 years at 6% interest compounded monthly. How much were her accumulated savings worth?
2. An apartment building is currently generating an income of $2000 per month. Its owners are considering a 10-year loan at 4.5% interest compounded monthly in order to pay for repairs. How large a loan can the income of the apartment house support?

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