Based on the amount that London deposited every month and the number of years involved, London would have $57,515.16.
<h3>How much would London have in 11 years?</h3><h3 />
The amount that London deposits every month is an annuity because it is a fixed amount.
The value in 11 years is therefore the future value of an annuity which can be found as:
= Amount x ( (1 + rate) ^ number of periods - 1) / rate
The number of periods is:
= 11 years x 12 months
= 132 months
Future value is:
= 320 x ( ( 1 + 0.45%)¹³² - 1) / 0.45%
= $57,515.16
Find out more on annuities at brainly.com/question/9293270.
