Question: Question 1 : ( Value 4 marks ) ( a ) Larry Long made end of month deposits of $ 4 5 into a savings

Question 1: (Value 4 marks)
(a) Larry Long made end of month deposits of $45 into a savings account for twenty years earning
5.5% compounded monthly. What was the accumulated value in the savings account just after
Larry makes his last deposit?
(b) How much interest did Larry earn in his annuity?

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