A student begin saving for college by making regular monthly payments of $200 into an account that

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A student begin saving for college by making regular monthly payments of $200 into an account that earns 5% per annually interest compounded monthly

a) determine the value of the annuity after four years

b) determine the amount of additional interest earned using $200 monthly payments with an interest rate of 8% per annum instead of 5%

Related Book For answer-question

Probability and Statistics for Engineering and the Sciences

ISBN: 978-1305251809

9th edition

Authors: Jay L. Devore

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Posted Date: Nov 21, 2022 05:25 AM

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A student begin saving for college by making regular monthly payments of $200 into an account that

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Monthly Payment 200 Annual interest Rate 5 Number of month... View the full answer

Probability and Statistics for Engineering and the Sciences

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