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Suppose you invest $150 a month for 3 years into an account earning 7% compounded monthly. After 3 years, you leave the money, without making additional deposits, in the account…

Suppose you invest $150 a month for 3 years into an account earning 7% compounded monthly. After 3 years, you leave the money, without making additional deposits, in the account…
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1 vote
Suppose you invest $150 a month for 3 years into an account earning 7% compounded monthly. After 3 years, you leave the money, without making additional deposits, in the account for another 23 years. How much will you have in the end?

asked
User Jrarama
by
8.1k points

1 Answer

6 votes

Answer: You would have $109,802.56 in the end.

Step-by-step explanation:

answered
User Joel Green
by
7.9k points
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