You are looking to build up your emergency savings, by making end-of-year deposits in your bank account.
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Question:
You are looking to build up your emergency savings, by making end-of-year deposits in your bank account. In Year 1 you deposit $1,500, in Years 2 and 3 you deposit $2,000, and in Year 4 you deposit $2,500. If the APR in the account is 7% compounded monthly, how much will you have in the account in Year 4?
Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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