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The present value of the money in your savings account is $420 and you are receiving 3% annual interest compond monthy. What is the future value in two months

The present value of the money in your savings account is $420 and you are receiving 3% annual interest compond monthy. What is the future value in two months
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The present value of the money in your savings account is $420 and you are receiving 3% annual interest compond monthy. What is the future value in two months

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User Scott Crossen
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1 Answer

2 votes
Base amount: $420.00
Interest Rate: 3%
Effective Annual Rate: 3.04%
Calculation period: 2 months
Answer = $422.10
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User William Pursell
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