In what year will the two quantities be equal?
1 answer:
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Answer:
Future amount (A) = $1,258.77 (Approx)
Step-by-step explanation:
Given:
Amount deposit (p) = $693
Rate of interest monthly (r) = 4.9% / 12 = 0.003833
Number of month (n) = 13 × 12 = 156
Find:
Future amount (A)
Computation:
Future amount (A) = $1,258.77 (Approx)
