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3 years ago

5

In order to accumulate enough money for a down payment on a house, a couple deposits $316 per month into an account paying 6% co

mpounded monthly. If payment are made at the end of each period, how much money will be in the account In 3 year?

1 answer:

Kaylis [27]3 years ago

8 0

0.06(316x) + 316x

x = 36

0.06(11376) + 11376

682.56 + 11376

12058.56

$12058.56 will be in the account in 3 years

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