The amount in the account is now 10 118 dollars for 6 years that earned 8% annual interest.
=> 10 118 dollars / 6 years = 1686.33 dollars per year.
=> <span>1686.33 dollars * .08 = 134.91 dollars is the interests per year
</span>=> <span>1686.33 dollars - 134.91 dollars = 1551.42 dollars per year
</span>=> <span>1551.42 dollars / 12 = 129.29 dollars initial monthly deposit.</span>
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Answer:
$20
Step-by-step explanation:
I = 400(.05)(1)
I = 20