Billy opens a bank account earning interest at 2.8% p.a. compounding monthly. Every month Billy deposits $150, which he does for 2 years. Then for the next 2 years Billy deposits $250 per month.

Calculate how much is in the account at the end of 4 years, and, how much interest has been earned over the 4 years.?

Answer rating: 100% (QA)

To calculate how much is in the account at the end of 4 years we can break down the problem into two ... View the full answer