Question: Jenny started saving for her retirement when she was 37. Each month she deposited $100.00 into an annuity that earns 5% per year compounded monthly.

Jenny started saving for her retirement when she was 37. Each month she deposited $100.00 into an annuity that earns 5% per year compounded monthly. How much will be in the account when she turns 70?

How much will she have deposited?

How much interest will she have earned?

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