Question: A typical pack-a-day smoker spends about $136.50 a month on cigarettes. Suppose a smoker decides instead to invest the money he would have used on

  1. A typical pack-a-day smoker spends about $136.50 a month on cigarettes. Suppose a smoker decides instead to invest the money he would have used on cigarettes. Each month the smoker deposits $136.50 into a savings account at 4.8% interest, compounded monthly.
  1. How much is the account worth after 40 years?
    1. 197,750.47?
  2. How much money was deposited into the account?

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