Suppose that you deposit $100 in a savings account at West of the Pecos Bank at the end of each month for the next 14 years. This period of time is your intended holding period. You plan to leave these

Suppose that you deposit $100 in a savings account at West of the Pecos Bank at the end of each month for the next 14 years. This period of time is your intended holding period. You plan to leave these contributions and any interest earned in the account until the end of your holding period. You forecast an APR of 4.89%, with monthly compounding.

What is the future value of your bank account, i.e., its balance at the end of the holding period?

Enter your answer in dollars and cents: round to the penny.

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Suppose that you deposit $100 in a savings account at West of the Pecos Bank at the end of each month for the next 14 years. This period of time is your intended holding period.…

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