Assume that you start a new savings plan of $100 at the end of each week. The funds earn 6% compounded monthly. After exactly one year, you increase the amount you contribute to $150 at the end of each week (still earning 6% compounded monthly). How much would you have saved after 4 years from your initial start date?

Answer rating: 100% (QA)

To solve this problem we need to use the compound interest formula which is A P 1 rnnt where A th... View the full answer